Protects Your Family
and it doesn’t have to cost the earth…
Mortgage protection life cover lasts for the same length of time as your mortgage. Most people with repayment mortgages go for decreasing life policies, which means the size of the pay-out decreases in line with your mortgage debt as it gets smaller over time.
As your mortgage is likely to be your biggest monthly outgoing, so if you are the breadwinner, you need to think about how your family would meet monthly repayments without your income.
Before taking out mortgage cover though, always check with your employer to see how much they will payout in the event of your death.
If you currently have an interest-only mortgage, and are therefore only repaying the mortgage interest and not the capital debt, remember to include both capital and interest when working out how much cover your need.
Questions about Mortgage Protection?
Here’s some commonly asked personal insurance questions
What is a mortgage protection policy?
Mortgage protection insurance is an insurance policy that pays off your mortgage if you or another policyholder dies during the term of the mortgage. By law, your lender must ensure you have this type of insurance cover in place when a mortgage is taken out with them.
Is it known or referred to as something else?
It is more commonly known as Mortgage Payment Protection Insurance (MPPI)
THINGS TO NOTE
If you wish to speak with someone about personal insurance cover and/or the products currently on offer. You can request a callback by providing a few details for a no-obligation conversation.
This would be normally done during 24-hours of submission during normal working hours.
Please note that in doing so the details you provide will/may be shared with our insurance partners, to purely be able to provide you with a better informed, and more personalised information.