Taking out a mortgage deal without buying life insurance has been described by an expert as "very risky".
Plan Insure's life and pensions adviser Simon Firmin has stated that the effects of the credit crunch have made it even more important for people to have cover, adding that protection is "vital".
Recent research by My Mortgage Direct found that only one in five borrowers has taken out the insurance along with a mortgage in recent times.
Commenting on the findings, Mr Firmin said there is "never a better time" to consider buying the insurance than when taking out a home loan, as otherwise people may not ever get it.
He added: "We're always going to advocate independent advice, particularly for things like critical illness cover and income protection [where] there's a wide cost band."
Plan Insure is operated by the Plan Invest Group, which provides consumers with advice on a number of financial products, including investments, pensions and life assurance.
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