Borrow on mortgage or use savings?

jamesd

Those insurances definitely help.

You might want to look into permanent health insurance (PHI) because that will pay out until retirement age if some illness prevents you from working again. It comes in two varieties, the best is "own job", that pays out if you can't do your normal job. The cheaper one is "any job" which only pays out if you can't do any job, so you could end up in a call center or some undesirable work. My view is that this matters more than some of the short term cover for covering a mortgage because an emergency fund can cover a year easily but covering all the years until retirement is much more challenging.