Mortgage Life Assurance
Mortgage Life insurance is designed to pay out a cash sum to help pay off your mortgage if you die during the length of the policy. Meaning your loved ones could continue to live in the family home without worrying about the mortgage.
There are variations of this type of cover. Our advisers will discuss which option is right for you and your family. In the meantime here is a brief summary.
Mortgage term assurance
Could pay out a cash sum to help pay off the outstanding mortgage if you die during the length of the policy. The amount of cover you choose will remain the same, unless you make any changes to your policy.
Mortgage decreasing term assurance
Is designed to help protect a repayment mortgage so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.
Add critical illness cover
You can add Critical Illness Cover at an additional cost when you set up your mortgage life insurance policy. It could pay out if you’re diagnosed with one of our specified critical illnesses during the length of the policy.