Mortgage Life Insurance, what is it ?

There is uncertainty in life and insurance is designed to reduce the burden of this uncertainty.

Hot Topics

Will my life insurance premiums increase over time?: The answer to this question depends upon whether you have a normal “Guaranteed” policy, a “Guaranteed indexed linked policy” or a “Reviewable” policy.
Are there any fees or extra costs to pay?: If you are purchasing life insurance through our product partner, Life Policies Direct, then there will are no fees or other costs to pay
How is a claim made under a life insurance policy?: All claims are made against the Life Company who issued your policy. You will find details of the claims procedure within the policy documents they provide with your policy and in the key features document.
UK Life Insurance and Laws in the European Union: All Life Insurance policies sold by UK based Life Companies cannot be sold to residents in other EU countries.

Obviously, for your family, no amount of money could possibly replace you. However, consider the financial implications if something were to happen to you. Then a mortgage life insurance is a life insurance designed to help assure that, in the event of your death, your family can remain in the house they love.

Mortgage Life Insurance can help care for your family´s financial situation by paying off the outstanding balance of the mortgage on your home with a cash sum should you die before the end of the term of your policy. The level of coverage decreases in line with a standard repayment mortgage, so you are only paying for the life cover you require.

And you choose the amount of cover and the length of time you need the cover to last and your monthly payment will stay the same until the end of the plan.

What does these mortgage life insurance plans provide? Well, normally the plan pays out a cash lump sum that can pay off your outstanding mortgage if you die or are ( personal loans ) diagnosed with a terminal illness before the end of the plan term. You can also have a plan that covers yourself and your partner. The plan can be set up on a joint life basis where the cash sum is paid out on the first person ( cheap loans ) to die or be diagnosed with a terminal illness while you're covered.

Page 2