This can have an element of life insurance. This can be set up to be with or without profits. To some the with profits type of saving is for optimists. There is little control over how companies calculate or make the profits. Management charges and overheads cuts sways into the profits of every company.
Success is dependent on the insurance company being successful many years into the future.
Building insurance provides cover to allow a building to be rebuild in the event of specific risks occuring. Many mortgage lenders insist it is taken out as a condition of the loan. Even if they did not the capital sums involved in rebuilding after subsidence are so large that many feel this is essential. In many cases it is better to purchase this insurance from someone other than the mortgage lender. When the loan is repaid you will want to continue to enjoy building insurance cover.