» Click here for the original article

If you have not got insurance to cover your offset mortgage the first thing you have to ask yourself is why – there are simply no good arguments against taking out good mortgage protection.

Some may say that they do not want to take out offset insurance because it’s too expensive. While it is true that insurance would be another outgoing, you can be sure that the saving benefits of an offset loan will more than cover any premiums.

Also if you think that you could not afford protection against loss of income, against damages to the property, against critical illness or even against death then how are you going to afford it if things do go wrong – how long could you afford to pay your mortgage if you lost a stream of income?

Some say that they are not interested in offset mortgage insurance because ‘it’ll never happen to them’. This, of course, is a foolish argument – none of us know what the future holds, but with some insurance against the bad things it’s easier to look forward to and plan for the good things that may come our way.

Some may also say that they do not need offset insurance because their flexible loan allows them to pay less and to take out lump sums during the tough times. This, again, is true but offset mortgage lenders are not infinitely generous – they will not let someone skip out on their mortgage responsibilities for too long.

So don’t take the risk – talk to an offset mortgage broker about insurance policies that will make sure to cover you and your mortgage should the worst happen.

To stay abreast of current trends, news and comment on offseting mortgages visit the Offset Mortgage Blog.