In plain English
If you have a repayment mortgage, the amount you owe goes down each year. Mortgage life cover usually shrinks in step with it, so it’s often cheaper than a policy that pays out a fixed amount. If the worst happens, your family keeps the house without the mortgage hanging over them.
You have a repayment mortgage and want the simplest way to make sure it’s cleared.
Interest-only mortgages, joint vs single policies, and adding critical illness cover.
The details
Who needs mortgage life assurance? If you have a mortgage and financial dependants, you need mortgage life assurance. This type of policy will pay off your remaining mortgage balance in the event of your death. Should you die during the term of your mortgage, you can’t just assume that your spouse or partner can carry on making the mortgage payments, even if they can afford to do so.
Unless the mortgage was arranged in joint names, the lender could formally demand that the mortgage is repaid. By arranging mortgage life assurance, this type of policy can guarantee to pay out enough to repay your mortgage balance in full.
Questions people ask us
How is this different from level term cover?
Can we take out a joint policy?
Do I have to take the cover my lender offers?
What happens if I move or remortgage?
How it works
- Drop us a message
- Have a proper chat
- We keep looking after you