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Mortgage protection insurance

  • Life insurance, critical illness and MPPI
  • What they are & what they might cover
  • Decide which policies work best for YOU!

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    Do homeowners need mortgage protection insurance?

    Unequivocally, YES!

    Taking out a mortgage is the biggest financial commitment we’re ever likely to make. If we don’t have adequate protection cover in place before the worst besets us, it’s too late!

    The irony is, if you’re unable to work, you’ll have plenty of time to think. What you don’t want to be thinking is, “If only I’d not put off taking out mortgage protection…”

    None of us knows what’s around the corner. Ensuring that our families don’t suffer unnecessarily should something devastating happen to us is vital for any homeowner’s peace of mind.


    020 8421 7998

    What is Mortgage Protection Insurance?

    Mortgage protection insurance covers your mortgage payments if something happens to you that prevents you from working. There are many products on the market that give varying degrees of cover:

    Mortgage protection review

    The FCA (financial regulator) puts the onus on businesses like ours to ensure that you have suitable and relevant protection cover. So, when buying a new home or remortgaging an existing property, we advise all our clients to consider the benefits of income protection.

    We have dedicated protection advisors who specialise in this field. They’ll help you find policies at competitive prices to suit your needs and your budget.

    You don’t have to buy a mortgage through us to take advantage of our expertise. If you currently have a mortgage without protection, get a review now; our team will be happy to help.

    Choose the mortgage protection option that’s relevant to you!

    Online comparison websites may appeal if you just want a cheap policy chosen by an algorithm. But this is your life or critical illness cover we’re talking about. Why would you want to go cheap?

    Besides, the cheapest cover is rarely the best fit, and is often a generic, ‘one size fits all‘ policy. You owe yourself and your family more than that, don’t you?

    That your cheap policy doesn’t actually ‘fit all’ often comes to light when you need to claim. Only then do you discover that taking the cheapest option wasn’t the best decision, after all.

    You, your family and your circumstances aren’t going to fit perfectly into the ‘everyman’ box. We provide bespoke insurance solutions that fulfil YOUR requirements, tailor-made for you on both cover and price.

    Which mortgage protection policies are available?

    Every homebuyer’s circumstances make their insurance needs unique. These are the options available; if you need more clarity, pick up the phone and talk to an advisor.

    Life insurance cover

    Covers you against: death or terminal illness.
    Type of benefit paid: lump sum/single payment.

    Life insurance pays out a lump sum, often tax-free, to your dependents if you die within the term of the policy. Life insurance, a.k.a. ‘term insurance’, can be set up in two ways: Level Term or Decreasing Term Assurance.

    Level term assurance:

    With level term assurance, you select the size of the payout (the amount of cover or ‘sum assured’) when you take out the policy. This amount never alters over the entire policy term.

    If you die during the term, the sum assured will be used to pay off any outstanding mortgage balance; the remaining death benefit will go to your beneficiaries.

    Decreasing term assurance:

    Decreasing term policies have a set term or period, usually coinciding with your mortgage term. The level of payout reduces over the term of the policy, theoretically decreasing as your capital and interest (repayment) mortgage balance reduces.

    If you die during that period, the policy pays out the cash lump sum assured at time of death.

    Because of the potential for lower payouts, premiums for decreasing term assurance are cheaper than those for level term assurance.

    Income protection

    Covers you against: illness or injury.
    Type of benefit paid: monthly payments.

    Income Protection insurance provides a regular replacement income if you’re unable to work due to illness or injury. It pays out a monthly income to cover a proportion of your gross salary (often 65%). It can pay out until you reach retirement age.

    Critical illness insurance

    Covers you against: critical or serious illness.
    Type of benefit paid: cash lump sum payment.

    Critical illness insurance pays you a tax-free lump sum if you’re diagnosed with a defined critical illness during the policy term. As long as you keep paying your premiums, you’re covered throughout the term.

    The cash lump sum paid to you can be used however you wish, but its main purpose is to relieve your financial burden during this difficult period in your life.

    The types of illnesses covered vary between insurers, so it’s important to check the details of a policy before you commit. Most policies cover:

    • Certain types of cancer
    • Heart attacks and strokes
    • Optional, add-on illnesses

    Access our wide range of insurance and protection cover

    We have access to exclusive, discounted rates from some of the UK’s largest insurance providers. Call our protection insurance team today on 020 8421 7998 or enquire now to find out which exclusive rates and policies best reflect your protection cover needs.