What Is Mortgage Protection?

Mortgage Protection is a policy that pays out a cash lump sum in the event of the policyholder’s death during the term. A lot of people do not want to consider their own death but what about the protection it brings to loved ones and dependants that are left behind. What would happen to your family if they could not keep up mortgage payments after your death.

Do I need Mortgage Protection?

Not everyone needs Mortgage Protection. For example, a single person with no children wouldn’t have much use for this type of policy. The policy is designed to leave a cash lump sum in order pay off the policy holder’s outstanding mortgage in the event of their death during the term. After all who is going to pay the mortgage once you are gone? If you think your family’s standard of life will change once you die then you probably need to consider this type of policy.

Mortgage Protection is designed in order to pay the outstanding mortgage amount off. It decreases every year in line with the repayments you make on your mortgage so that should the worst happen it will clear the outstanding debt. Its a cost effective policy for complete peace of mind.

How much does it cost?

The cost of Mortgage Protection can vary due to your individual circumstances. Age, smoker status any pre-existing health conditions.  Call today and receive a detailed Illustration to suit your needs and budget.

If you have any questions about Mortgage Protection? Why not call us on 0131 463 5678 or use our quick contact form below. We look forward to hearing from you soon.