One in eight homebuyers not offered mortgage protection

Via broker

Adam Saville
clock • 2 min read

Customers arranging mortgage via broker are being left exposed, Canada Life research reveals

A study by Canada Life has suggested that 13% of those purcasing a home through an adviser did not discuss protection - a figure that rises to 20% for clients over 50. One in eight homebuyers, however, did have the conversation when taking out their mortgage, but chose not to take out the cover, leaving them exposed. The researched - a study of just over 1000 adults who sourced a mortgage through a broker - revealed that the majority (76%) did discuss protection during their initial session, with life insurance being the most commonly purchased product (57%), followed by critical illn...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

COVER to launch Mortgage Protection Zone

COVER to launch Mortgage Protection Zone

Content, video and insights for advisers navigating mortgage protection

COVER
clock 09 February 2026 • 2 min read
Partner Insight: Rethinking mortgage protection: Is covering just the home enough?

Partner Insight: Rethinking mortgage protection: Is covering just the home enough?

With rising living costs, homeowners face unprecedented financial pressure, giving advisers an opportunity to reframe the mortgage protection conversation.

Andy Philo, Strategic Partnerships Director for Vitality
clock 09 February 2026 • 5 min read
Half of couples unsure on location of their partner's will

Half of couples unsure on location of their partner's will

40% know where to find life insurance policy

Jaskeet Briah
clock 04 February 2026 • 2 min read