Will my Mortgage Lender or Broker not expect me to buy life insurance
from them?
They might want you to buy from them, but you can choose
to buy from wherever you like.
There is no requirement on you to buy Life Insurance from
your Mortgage Lender or Broker. In fact, you will almost certainly find
that it is better value to shop around.
The prices currently being offered on the Internet are very
competitive and you can easily get a quote. Why not compare it with the
price you are being offered by your Mortgage Lender or Broker?
Sometimes people are worried that their mortgage lender
will not accept insurance that is bought online. However, you need not
worry. Under UK law, you are entitled to buy your life insurance wherever
you like and your mortgage lender cannot refuse to accept it.
If your insurance is to be associated with your mortgage,
your Mortgage Lender may want evidence that your life has been insured
for the amount and term of the mortgage. All they need is a copy of your
Acceptance Letter.
Remember, all the quotations provided through
this site are from the top UK Insurance Companies. They are all names
that you’d recognise such as Norwich Union, Scottish Equitable,
Legal & General, Friends Provident and Scottish Widows.
And if you need to speak to someone about this, or need
advice about dealing with your Mortgage Lender, you can phone the Brokers
Online Help Desk on 01625 416 280.
Other relevant questions…
Will
my Mortgage Lender charge a fee if I buy my Life Insurance from someone
else?
I need
an insurance quote immediately. What do I do?
Is Life Insurance for me?
What else do I need to know about Life Insurance?
How do I get a Life Insurance Quote?
How do I choose the right policy for me?
What if I need cover to be arranged quickly?
|
How are premiums calculated?
What if I have to make a claim?
Do I need Mortgage Life Insurance instead?
Should I consider Critical Illness cover?
What other sorts of Insurance should I think about?
How do I make a complaint?
What do I need to know about the law and Life Insurance?
|
|