Families at risk of losing homes

Life insurance can be linked to a mortgage term, and will cover the mortgage costs in the event of the death of the insured.

Sainsbury’s Bank estimates that 4.2 million people with mortgages worth an estimated £217 billion do not have life insurance.

David Pickett, life insurance manager, Sainsbury’s Bank said: “Life insurance provides financial cover should the unthinkable happen. Homeowners in particular should take care not to overlook life insurance as it can help to ensure the property is paid for upon death, alleviating any financial burden and may even provide financial security for loved ones.”

Sainsbury’s Bank offers 5 per cent discount on life insurance premiums for the life of the policy if purchased before 26 March 2006.