Mortgage Protection
What is Mortgage Protection Life Insurance?
Mortgage Protection Life Insurance is financial protection for your family should you die and leave an outstanding mortgage. This cover is also known as decreasing term life insurance and is designed to pay off the outstanding balance on a repayment mortgage or other loan.
Getting a quote for Mortgage Protection Life Insurance
- You can get an online quote in minutes.
- Choose the best deal from our panel of insurers.
- Premiums remain the same throughout the policy term.
- Choose from single or joint cover.
How does Mortgage Protection Life Insurance work?
- This cover should be considered when you are moving house or remortgaging.
- You choose the amount of cover you want and how long you would like the policy to run for.
- The amount of cover reduces each month during the policy term and is calculated to be enough to equal the capital outstanding under a normal repayment mortgage.
- If you die during the policy term your insurer will pay the calculated amount of cover at that time.
- If you set up a joint policy (one policy to cover two people) the amount of cover is paid out on the first death.
- The policy stops when a claim has been paid. These policies have no cash in value at any time.
