Making sure you have mortgage protection cover could mean that your family and loved ones are protected from financial costs in the unfortunate event of your death or becoming terminally ill. This financial protection could provide peace of mind that your family will be able to cover the cost of an outstanding mortgage and remain in your home.
Many companies offer a type of life insurance called decreasing term insurance. The cost of this cover decreases with the level of mortgage debt you have. It can be used in conjunction with a repayment mortgage to cover any outstanding mortgage costs if you die before the debt is fully repaid, making sure that your family and loved ones do not lose their home. You should be wary that this type of insurance lasts only on a term basis and so when the policy ends there is no value.For mortgage protection cover use our quote service: