Westfield Life Insurance Joint Mortgage Protection
Mortgages have come to be an integral life of British society, and it is estimated that a whopping 87% of the population are currently paying mortgage loans.
There were a lot of cases in the past where, for one reason or another the clients were unable to pay off their mortgages, resulting in catastrophic consequences and personal bankruptcy.
Over time, there were a lot of measures taken in order to make sure that this does not happen anymore. The banks and creditors have adopted rather harsh screening processes, making sure that the person first meets a lot of criteria before being given the loan, and the people have learned how not to take out mortgages for every single thing and how to actually save money and be on time with payments.
However there are still certain situations in which you can easily be rendered bankrupt by your own mortgage. Let’s say you suffer debilitating injury and you are unable to work anymore, or let’s say that you lost your job and nobody else will hire you for whatever reason, or maybe you’ve died and your kids were forced to take over the mortgage payments for your loan. These are still factors that plague our economic reality when it comes to mortgages.
Securing your end of the deal
There is a way in which you can make sure that you are not caught off guard and whatever happens, you will not wind up in the street as a result of your personal mortgage.
This is called mortgage protection and an insurance company called Westfield Insurance is currently regarded as being one of the best providers of mortgage insurance in the UK today.
What mortgage protection does is make sure that the mortgage is paid even though you are unable to pay it yourself. Whatever happens, if you are no longer able to pay your mortgage, the insurance company will step in and pay the remaining sum of money in one big chunk, cutting all the expenses and interest accumulated as much as possible.
Joint mortgage protection and Westfield’s solution
There is also joint mortgage protection, in case you want to add another person to that policy. Westfield is able to provide 2 people with the protection that they need in order to make sure that their mortgages do not go unpaid and whenever something bad happens to one of them, the other one can clear things out until the other person is better.
The investments necessary to make sure that joint mortgage protection is at the very least efficient are a bit on the extravagant side, being calculated for multiple mortgages in one package. Westfield chose to play it safe and even though there are times when they are required to, they still refuse to venture out in risky investments, choosing to play it safe and invest wisely, slowly and safely, so that they eliminate the risk of loosing all the funds that their policyholders need.
How can we save you up to 40%
If you don't find the best joint mortgage protection deal now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only specialise in joint mortgage protection. Easily search over 400 policies and find your best quote. Complete our short form to get started.