Mortgage Protection
Mortgage Protection is a form of life cover where the sum assured is specified at the outset of the contract and cover decreases throughout the policy term. The decrease in sum assured will be broadly in line with the reducing mortgage debt when the mortgage is being repaid on a repayment basis. Due to this fact the cost of a mortgage protection plan is cheaper than an equivalent level term assurance plan as the outstanding liability against the life insurance company is always reducing.
The graph below shows how the sum assured decreases over time, compared to a level basis where it remains the same until the end of the term.
Like all types of life insurance you can also have additional benefits such as critical illness and waiver of premium benefit.
Our Protection Quotation service is a fast and easy way to pinpoint some of the best rates available from leading protection providers.
- You get real-time quotes from the UK's most competitive protection providers.
- You can quote as many times as you require and view the rates available for the very wide range of options available for protection.
- It is free of charge and you are under no obligation to deal with us.
- No subscriptions or passwords are required.