Why cover:
  • 6 of 10 UK mortgage holders have life cover*
  • secure your loved ones’ well-being
  • price at all-time low, cover from £5 a month
Why us:
  • helping you find the right policy for you
  • critical illness cover; heart attack,cancer,etc.
  • the whole market compared, fast & free

What is Mortgage Life Insurance

Mortgage life insurance ensures your mortgage debt is paid in the event of your death. This prevents the foreclosure of your home, which is one of your major investments.

Mortgage life insurance has the following features:

What insurance do I get if I have a mortgage?

Mortgage life insurance. This may be confused with other mortgage insurance products. Mortgage life insurance is not:

Types of mortgage life insurance

Mortgage life insurance can come in two types:

Additional benefits

You can strengthen the protection provided by your mortgage life insurance policy by option for the following add-ons:

The cost of mortgage life insurance

Mortgage life insurance premiums are computed based on the following factors:

Learn more about the mortgage life cover costs.

Buying mortgage life insurance

You can buy mortgage life insurance from your lender or from an insurance agent. Buying from your lender makes for convenience. You only have to make one payment for both the amortizations and monthly premiums. However, you may have savings if you buy from an independent insurance agency.

Although you usually will not need to undergo medical examinations when taking out a mortgage life insurance policy, it is important to remember to be honest in your answers to medically-related questions. This will help avoid any hassles or denial of your beneficiary’s claim.

Know more: Is it better to buy from a website, from an insurance company or from the lender?

Mortgage life insurance to strengthen your insurance portfolio

Some people say that a term life insurance can address any concerns about the mortgage – and give your family enough freedom to decide to spend the money the way they see fit.

However, a mortgage life insurance policy, which is designed to specifically cover the mortgage, will ensure that the insurance proceeds will go to pay off the mortgage. You can actually have a mix of life insurance to cover your mortgage and life insurance for the rest of your family’s needs – payment of other debts, payment of your end of life expenses, to fund your child’s education, to pay for the family’s everyday needs. That way, you secure your family’s future while also ensuring that they don’t have to face the prospect of foreclosure.

Other sites: critical illness cover, lifeassurance.org.