Mortgage Protection |
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Mortgage protection plans are often referred to as decreasing term insurance, essentially this means that the cover within the policy will reduce at a similar rate to that of the balance on your repayment mortgage. Decreasing term insurance can like most other life insurances have additional bolt-on options such as Critical illness insurance, income protection and waiver of premium. Because the cover decreases over the term of the mortgage these plans are usually cheaper than the alternatives of Level term and increasing term which as their names suggest would offer greater levels of cover. Mortgage protection plans can be purchased on either a single or joint basis, they would usually cover the first event (death) and provide a cash lump sum that can be used to repay the mortgage for the surviving partner, however there are a wide number of variations to these options and it is best to consult with one of our expert advisors before completing the purchase. Use our quick enquiry form to arrange a call back from a qualified advisor. Article: The Ins and Outs of Mortgage Protection Life Insurance
these are a sample of some of the companies available
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