4.2m people fail to protect mortgage with life insurance

A report published by Sainsbury’s Bank, part of the supermarket chain, claims up to £217bn worth of mortgages left un-protected leaving estates vulnerable as families find they are unable to afford to keep up with the mortgage repayments of an additional home or, in some case of spouse that have been left behind, may not be able to continue living there. Sainsbury’s Bank claims the protection gap could increase following the recent surge in the housing market, which saw the number of new mortgage approvals rise to 122,000 in December 2005, the highest since May 2004. David Pickett, life i...