No legal requirement exists, though some lenders require life insurance as lending condition, particularly for high loan-to-value mortgages. However, it’s highly recommended for financial security.

Life insurance continues regardless of property moves. You may need to adjust coverage amounts if your new mortgage differs significantly. Mortgage payment protection continues but may need updating for new payment amounts.

Yes, though mortgage payment protection is more limited for self-employed (typically accident and sickness only, not unemployment). Life insurance and critical illness availability is identical to employed individuals.

Independent policies through whole-of-market brokers are typically more competitive, offer better coverage, and remain yours if you remortgage to different lenders. Lender policies may be convenient but rarely offer best value.

Review whether existing coverage adequately protects your mortgage. Many people have employer life insurance (which ends if you leave) or insufficient coverage amounts. Additional specific mortgage protection may still be appropriate.

Sometimes yes, through policy increases or riders. However, new applications often provide better value and terms. We review existing coverage and recommend optimal approaches.

Policies typically have 30-day grace periods. Persistent non-payment leads to policy lapse. Some insurers offer premium holidays or payment plans during temporary financial difficulty.

For death claims, beneficiaries contact the insurer with death certificate and policy details. For mortgage payment protection, provide medical certificates, unemployment evidence, and claim forms. We provide claims support throughout the process.