Is life insurance legally required?
Life insurance is not generally a legal requirement simply because you have a mortgage. A lender may have its own requirements or recommendations, and buildings insurance is a separate issue.
Why do homeowners still consider it?
Cover can provide money to repay or reduce a mortgage if a borrower dies, helping the surviving family avoid an immediate affordability problem.
How does this link to a Will?
The Will determines how estate assets pass, while life insurance can provide liquidity. Home ownership, the mortgage, beneficiary choices and any policy trust should be reviewed together.
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You do not need to know the name of the legal document or trust before speaking to us. Explain the family, property or planning issue and we can discuss the relevant options.