Quarter of a trillion pounds worth of mortgages unprotected

Four in ten mortgage holders in Britain (41%) do not have their contributions covered by life insurance, the report from Sainsbury's Life Insurance found. It suggested that there are nearly seven million people with a collective outstanding mortgage balance of £245 billion who have no life insurance to cover their mortgage and provide support to their dependents in event of their death. On average, those who pay towards a mortgage and aren't covered by life protection are currently personally responsible for an outstanding balance of over £36,000. Many of those in age groups who ar...