Common Mistakes Buyers Make With Mortgage Protection

Before you commit to a mortgage protection policy, it’s important to understand what you’re getting, and what you’re not. Here are some of the most common mistakes buyers make, and how to avoid them.

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  Leaving it to the last minute
  Some buyers assume it’s instant. While many policies can be arranged quickly, delays can arise if details are incomplete.
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  Assuming the bank arranges it
  Banks require Mortgage Protection, however, they don’t provide it for you. Choosing a provider is your responsibility.
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  Buying the first policy offered
  You’re free to choose your own provider, and switching can often save money without affecting your mortgage approval.
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  Thinking it covers everything
  Mortgage Protection clears the mortgage only. It doesn’t cover household bills or long‑term family financial needs.