Mortgage Life Insurance

The purpose of taking a mortgage life insurance is to ease the financial worries of your dependents, family or loved ones should you die or be diagnosed with a serious illness. Have you ever thought about the possibility of leaving your mortgage debt outstanding in case you weren’t around anymore?

Mortgage life insurance also known as decreasing term life insurance will pay a cash sum that can be used to pay the outstanding debt on your mortgage. It is called decreasing because the amount assured generally decreases over time in line with the balance of your mortgage.

Mortgage Life insurance is different that Mortgage Payment Protection Insurance. This one is designed to pay off your repayments in case of redundancy, sickness or an accident.

Mortgage life insurance with critical illness

You can have a critical illness option when taking this cover. It will pay out a sum if you are diagnosed with a serious illness during the term of the policy.

Why should I get quote from Yourinsurancequote.co.uk?

You may or may not have this ‘built in’ on your mortgage deal. However It is recommended to see if there is a cheaper deal available. Sometimes lenders say the usual ‘you will need our insurance…’ and it doesn’t always mean it is the most competitive.

Just fill out our quick inquiry form to get mortgage life insurance cover quotes from major insurance companies such Aviva, Bupa, Legal & General, Bright Grey, Scottish Widows, Zurich, Axa among many others.