Mortgage Protection Insurance

Mortgage Protection insurance is Life insurance engineered to produce the amounts of monies needed to pay our Mortgage on our home or investment property(s). Obviously, Mortgages can reduce over time and in the case of interest only they do ‘NOT’ (they are level) so we need to protect accordingly.

This life insurance or protection policy can be configured to pay the family (not the Mortgage company directly) in the event of the insured passing or diagnosed with a critical illness. We can also build the solution to protect one person or two – that’s even if one person is not actually named on the Mortgage!

Mortgage protection can look like this:

• JOINT Decreasing Mortgage Protection
• £200,000 of Decreasing Life Insurance over 25 years at £X per month.

A single policy designed to pay out if there is a life or a critical illness claim the next ‘25’ years for either of the insured. The amount of monies would be dependent on the time of the event but would equate to only the outstanding on the loan ‘only’. 

Protection can be a joint policy protecting both in the home in the event of passing or a single policy just insuring one person again on a reducing basis in line with the Mortgage value.

Critical illness protection can be added to the solution so in the event of a critical illness the family would be Mortgage free

For more information on how to protect your home and Mortgage please contact us below, to discuss your options.