What is life insurance?
Life insurance is an insurance policy where you make monthly payments to the insurance company so that they will pay a previously agreed amount of money to your loved ones should the worst happen to you.
This money can be used however your loved ones feel necessary.
There are different types of life insurance, you can read more about these here.
Do I need life insurance for a Generation Home mortgage?
The short answer is no.
However, we will always discuss life insurance for any future homeowners and Income Boosters during your mortgage advice call. This is because they are all jointly and severally liable for the mortgage.