As a property investor, it’s important to protect your investments and your loved ones in case of unforeseen circumstances. Arranging life assurance for the value of your mortgages is a crucial step in ensuring that your loved ones are not left with the burden of repaying your buy to let loans in the event of your death.
In case of your death, your estate will not be immediately accessible by your loved ones, and it could take some time for the estate to be settled, during this period the mortgages will still be due for payments. Without life assurance, your loved ones would be responsible for repaying the mortgages on the properties, which could put a significant financial strain on them.
By having life assurance in place, your loved ones will have access to the funds they need to repay the mortgages, without having to sell the properties or put them through any other financial burden. This will ensure that your loved ones will not have to worry about losing their inheritance and they can keep the properties as an investment.
Furthermore, having life assurance in place will give you peace of mind knowing that in case of death your loved ones will be protected and your investments will be safe. It’s a small investment of money and time that could provide a significant level of protection in case of an unexpected event.
Speak to an expert to discuss further.