im 57 just got mortgage approved but have no life assurance , bank says my wife and i need life assurance to get loan, thats fair enough but we have plenty of assets and property to cover mortgage amount in case we default we could sell an asset but not going to happen as we hope to pay mortgage off in 5 year,and the bank hold all these deeds. bank says it is a government regulation that the family home has to be protected and taking out life assurance is the best way of doing this. is this true or is bank trying to get extra out of us by getting us to take it out. it comes to 300 euro a month so its a lot on top of a mortgage