Mortgage protection means more security for your family.
For most of us, buying a home is a major financial commitment. So it's important that we have cover in place to protect your home, if the unexpected happens. A mortgage protection plan will pay off the outstanding balance on your mortgage if you die or become seriously ill. Bringing you peace of mind in the knowledge that your family home is secure, no matter what happens.
What is Mortgage Protection?
Mortgage Protection is a dedicated type of life insurance. It helps secure the ownership of your home by paying off the outstanding mortgage if you die within the specified term. Your family would therefore be relieved of the financial burden of repaying the mortgage, should the unexpected happen.
How does it work?
- *Designed to pay off the remaining mortgage debt on repayment mortgages if death occurs within a set period.
- *It ensures your dependents needn’t worry about repaying the mortgage in the unfortunate event of death.
- *The cover decreases in line with the outstanding mortgage debt (if you have a Capital Repayment mortgage).
Is it worth having?
Anyone taking out a mortgage is obliged to have mortgage protection in place. Many people take up a policy with their mortgage provider.
- *We would strongly recommend you start a policy when you take out a mortgage.
- *It is essential protection and, if set up correctly, should not be too expensive.
- *We can research the market and find the most appropriate and cost effective policy for you.