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

Applying for mortgage life insurance - 5 steps you shouldn't miss

Mortgage life insurance has never been easier to obtain! With the choices we offer in this website, you can get quotes from the top life insurance providers and you can compare quotes and choose the best mortgage life insurance deal for you.

Now, how do you apply for mortgage life insurance?

  1. Determine what you need. In most cases, if you want to get a mortgage life cover for less, you already need to know what you need. Execution only brokers offer lower rates but will simply sell you the policies, they will give no advice about what products to choose for your particular situation and need.

    To help you determine what you need in a mortgage life insurance cover see Choosing mortgage life insurance.

  2. How to lower your premiums:

    • Exclude your dangerous pastimes. You can request that these pastimes (which can potentially increase the premiums) be excluded from the cover.
    • Stop smoking. Although the effect will be felt after one year or two from the time you quit smoking, kicking the habit can reduce your premiums considerably. If you have recently stopped smoking, you can request for a review of your policy to shift you into non-smoker status.
  3. Ask for quotes. You just need to fill out the form on the right side by providing your name and other personal details as well as:

    • The kind of life insurance, or whether to include critical illness
    • Type of cover, whether increasing or decreasing
    • The length and amount of the cover
    • The type of premium, whether reviewable or guaranteed.

    Please note that quotes are for standard rates. If you have a pre-existing condition, your rates may be higher.

    There are also maximum coverage amounts allowable. If you need a higher level of coverage than is allowable, more underwriting requirements may be involved.

  4. Compare the quotes. When comparing quotes, don’t just look at the price. Your decision should also be based on the additional benefits provided, the exclusions the policy has and the reputation of the provider (its stability, its claims approval rates). Providers may also vary with how they underwrite prospective clients – some may be focused on giving cover to smokers, or to those who have a certain pre-existing condition.

  5. File your application. Fill up the application and answer the questions. The questions will mainly cover:

    • Your medical condition, including your personal and family’s health history, medications you have been prescribed by your doctor
    • Your financial information, particularly those involving the mortgage
    • Other personal details, such as hobbies, driving record, etc.

    The Incontestability Clause. When answering the questions, make sure that you are honest and that full disclosure is made. Failing to do so may be used as grounds to deny your claim in the future. If your death occurs in the first two years of the policy, failure to disclose information can be considered as misrepresentation. If the claim is contested, what you may receive may only be the refund of all premiums paid.

  6. Review then confirm your application. Carefully go over your application to ensure that you did not miss anything.

Latest update: 18.06.2013

Get your mortgage life insurance quote now, fill our form on the right.

Other sites: critical illness cover, lifeassurance.org.