It’s hard to imagine being anything other than healthy and happy. We work hard for our loved ones, paying for the family home and supporting them financially.
Could your family afford to pay the mortgage if anything happened to you?
Mortgage protection insurance pays off the outstanding loan and keeps the family home secure.
Ask an Assured Life adviser about mortgage protection insurance today.
What is mortgage protection insurance?
Mortgage protection insurance pays out a tax-free lump sum which your family can use to pay off if you die.
Unless your family continue to pay the mortgage after your death, their home will be repossessed.
Would they have enough money to pay the mortgage and household bills if you die? This life insurance covers both types of mortgage: interest-only and repayment.
How does mortgage protection insurance cover my mortgage?
There are 2 types of mortgage protection insurance and both cover the outstanding loan:
- For interest-only mortgages
A level term policy pays off an interest-only mortgage. The outstanding balance stays the same throughout the mortgage term.
- For repayment mortgages
A decreasing term policy settles the remaining balance (which reduces during the mortgage period).
We arrange the insurance to cover the whole amount and your family are left mortgage-free.
Why do I need mortgage protection Insurance?
Mortgage protection insurance is popular with families with a mortgage. In the event of a qualifying claim, you will receive a payment to assist with meeting the costs of your mortgage, providing financial peace of mind and what can be a very worrying and uncertain time.
Which mortgage protection policy do I need?
An Assured Life Adviser will help you choose the most appropriate policy to protect your mortgage so your family are free from the monthly payments in the event of a qualifying claim.
How do I make a claim?
Each insurance company will have its own claims processes, which will be clearly signposted throughout your policy documentation. Assured Life Advisers will happily help you if we are able to do so, should you require assistance at all.
Get in touch
Book an appointment with an Assured Life Adviser today to find out about mortgage protection insurance.