Mortgage Life Insurance  (sometimes known as Decreasing Term Insurance)

Do I need Mortgage Insurance and should to buy it from my lender? 
Mortgage life insurance is a way of ensuring that there is enough money to pay off your mortgage, if you die or you are diagnosed as having a terminal illness.  Mortgage life insurance is used ensure that in the event of your death your dependants are secure in your house, and your mortgage or loan is paid off.

Mortgage Life insurance is often a requirement when taking out a mortgage.   It is a good idea to look beyond the lenders own insurance policy, as this is often not the cheapest available.  

Mortgage insurance products are designed to pay out a cash sum in the event of your death or diagnosis with a terminal illness whilst the policy is valid. The cash sum paid out is known as the sum assured, the amount you pay each month is known as a premium and the time that the plan covers is known as the term.

• Payment Protection cover -This option ensures that should you become unable to work for a prolonged period through illness or injury, the provider will make your payments for you, until you return to work, reach age a previously agreed age (usually 65) or the end of the plan, whichever is earlier. This helps to safeguard your plan and your protection.
  

• Level Term Assurance Life Cover - to provide for your dependants in the event of your death or diagnosis with a terminal illness.
  
• Business Cover - to protect your business interests in the event of your death or diagnosis with a terminal illness.
  
  Payment Protection cover - to protect the payments on term assurance, mortgage or business cover.
  
  Critical Illness Cover- to protect against being affected by a serious illness or injury. 
• Mortgage Cover - to pay off a mortgage or loan in the event of your death or diagnosis with a terminal illness.  

 This site contains general material and is not intended to give financial or other professional advice.
If expert advice is required, please seek the services of a qualified professional.   

Online UK Life Cover, Mortgages, Payment Protection Insurance & Mortgages