One third of mortgages are sold without life cover - Defaqto

In 2009, the Association of British Insurers (ABI) recorded 636,973 new mortgage-related life assurance policies written, but the Council of Mortgage Lenders recorded only 925,000 new mortgage advances. Ben Heffer, author of the report and Defaqto's Insight Analyst for Protection, acknowledges that in some cases, there may be prevailing individual circumstances that dispense with the need for life cover. However, he adds: "The figures suggest that there are many people taking on debt whose loved ones would have no means of paying it off for them if the worst happened. The protection g...