If you have a mortgage and want to make sure it can be repaid, let us take you through your options. We can give you access to all of the main insurers for any form of life insurance and organise cover appropriate to your needs.
Life Only Mortgage Protection Insurance
This is the most cost effective option available. The life sum insured will reduce in line with your mortgage over the period of the loan. It is the minimum requirement for any mortgage provider where you are paying a capital and interest mortgage.
Level Term Mortgage Protection Insurance
If you are paying an interest only mortgage and the original loan amount is not reducing, you will need non reducing life cover.
Life AND Serious Illness
For either option above, you can include Serious Illness benefit. In this instance, benefit is paid and the loan can be cleared in the event of either Serious Illness or premature death.
Single Life / Joint Life
Single Life – required were the loan is being taken out by one person only.
Joint Life – required where the loan is in joint names, i.e. husband/wife and benefit is paid on first death/serious illness only.