Mortgage Life Cover

Mortgage Life Cover

Mortgage protection is a form of life insurance where the pay-out will cover your outstanding mortgage debt.

It financially secures your home for your loved ones preventing them from having to sell up and downsize or face repossession.

How does it work?

If you have dependents that rely on your income to cover the mortgage it will be paid off if you die and secure your home for your family.

What is covered?

You can insure the full cost of your mortgage if you have an interest only mortgage with level term cover. This means your debt stays the same throughout the term of the policy.

If you have a repayment mortgage a decreasing term policy covers what is left to pay on your mortgage at the time of the claim.

Mortgage Life Cover may not be the best insurance for you if you have nearly paid off your mortgage, or your family do not need your income to make repayments and pay the bills.

Our advisers will be able to assist you in finding the best policy for you.

Frequently Asked Questions

Level Term Cover provides you with the reassurance that, regardless of when the claim is made during the policy term, the pay-out is fixed. This means you receive the full cover value.

Decreasing Term cover reduces in line with your other debts, such as your mortgage repayments so the overall amount repaid is decreased over time to cover the outstanding balance at the date of claim.

You can change your Mortgage Life Cover whenever you want.  Call us for free advice to find a policy that ensures you’re not under protected or paying too much for Mortgage Life Insurance cover.
 You choose who receives the lump sum; it does not get directly paid to your mortgage lender.

We offer free expert advice to help find the best possible cover for you.  Call us today to find out how we can help you to stay protected.