Sainsburys Finance urges homeowners to consider life insurance

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Sainsburys Finance urges homeowners to consider life insurance

It is wise for homeowners to sign up for life insurance, according to a source from Sainsburys Finance.

Lucy Hunter, life insurance manager at the company, explained that having cover means that any family members still living in a property will be able to continue residing there.

She noted that it can offer peace of mind to the breadwinner in a house, since the home will be paid for if they pass away.

"Life insurance provides financial cover should the unthinkable happen, enabling people to be secure in the knowledge that their dependants could receive a cash lump sum if they were to die," said Ms Hunter.

Sainsburys Finance research showed that 43 per cent of mortgage holders do not have insurance on their payments.

The firm recently published a report showing that new parents are borrowing £2.32 billion to set up their home for their baby's arrival, with an average of £2,980 spent by adults on such changes.

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