What is mortgage life insurance and why do I need it?
Mortgage life insurance is a policy designed to pay off your outstanding mortgage in the event of your death.
How does it work?
- Choose the term of cover e.g. 30, 25 or 20 years. You may want to consider the term of your mortgage.
- Typically cheaper than a normal life insurance policy as the sum insured decreases as you pay off your mortgage balance.
- Ensures your loved ones have one less thing to worry about in the event of your death
If you're confused about the difference between ‘mortgage life insurance’ or ‘mortgage payment protection insurance’ (MPPI) – read our guide here
Why do I need mortgage life cover?
- Would your dependents be able to pay for the outstanding mortgage repayments if the worst was to happen to you?
- If you’re not sure which type of cover is right for you, read our guide to policy types before you get a quote
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Looking for a specialist policy?
Get cover for up to 30 serious illnesses including heart attack, cancer and strokes
Guaranteed acceptance, without a medical, for ages 50-80.
A fixed level of cover which pays a lump sum upon death of the policy holder
See all our specialist policies