Life insurance?

6 replies

purpleme12 · 07/04/2021 23:37

Hi I know this is a stupid question and I don't know a lot
... But if you're getting life insurance for your mortgage do you have to get it so it starts on the day you buy the house? I mean is there a rule that you have to get when you buy the house or can you get it after if you decide you would like it?

OP posts:

LittleOverwhelmed · 08/04/2021 07:37

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

folloyourarro · 08/04/2021 08:39

I don't know about life insurance as we've always had it in place anyway, no harm getting that sooner rather than later. Buildings insurance is required from exchange as that is the point you are legally bound to the property even if something were to happen to it (the exception being new builds).

overwork · 08/04/2021 09:13

You don't need life insurance from the start. I have a mortgage, I don't have life insurance. I'm not certain whether or not one can get it in retrospect, but the fact that they try and sell me it when I renew my mortgage would suggest it is possible.

murbblurb · 08/04/2021 12:54

do you need life insurance? Think what happens if you disappeared tomorrow. Can whoever is left cope with the bills?

if the answer is 'no' then you need insurance.

justchecking1 · 08/04/2021 17:03

You need to check the T&Cs for your mortgage. Some stipulate you must have life insurance in place

Original poster

purpleme12 · 08/04/2021 18:08

No it doesn't
I just wondered if people knew on here, no matter

OP posts:

Flip