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We help 100s of people compare quotes every week for Mortgage Protection Policies from the UK's leading insurers.
The quotation service is completely FREE & you are under no obligation to purchase.
We have carefully selected specialist partners to bring you excellent independent advice and competitive quotations on Protection Insurance from the UK's leading insurers.
Instead of pushy sales people, we offer a more personalised service that allows you to make an informed choice.
Mortgage Protection Insurance can be a slightly confusing term because it can refer to both Life Insurance and Payment Protection Insurance in relation to a mortgage. In simple terms, the Life Insurance product protects in the event of the death of the policyholder, whilst the Payment Protection Insurance protects the monthly mortgage payments in the event that the policyholder is unable to work due to Accident, Sickness or Unemployment for up to 12 months.
A Mortgage Protection Life Insurance policy provides a lump sum of money for family members to settle the outstanding mortgage balance in the event of the policyholder's death during the term of the policy. It is also known as Mortgage Life Insurance, Mortgage Insurance, Term Assurance and Term Life Insurance .
If the policy is to be used solely to cover a repayment mortgage, then a decreasing term life insurance product is usually the best choice, as the amount of money the policyholder has been insured for decreases in line with the value of the outstanding mortgage balance.
Conversely, a level term life insurance product is usually the best choice for an interest-only mortgage, where the value of the outstanding mortgage balance remains constant during the term of the policy.
The amount of cover required is always going to depend on an individual's circumstances. Essentially, you need to work out the financial impact to your family in the event of your death, and how much money they would need to survive.
Most leading Mortgage Protection Life Insurance policies include Terminal Illness Insurance at no extra cost. In the event that the policyholder is diagnosed with a terminal illness (defined as where life expectancy is less than 12 months), then the insurer will agree to pay the amount of money insured on diagnosis rather than death. However, this benefit is not available during the last 18 months of the mortgage protection insurance policy.
Further cover can be provided with Critical Illness Insurance , which pays out the amount of money insured should the policyholder be diagnosed with having one of the specified Critical Illnesses. Not all companies have the same Critical Illnesses, so it is important that the policyholder is familiar with the inclusions and exclusions before any documentation is signed.
Mortgage Protection Payment Insurance provides a monthly sum to cover mortgage payments on the family home in the event that the policyholder is unable to work due to a sickness or unemployment for up to 12 months. As state benefits for people who are unable to work are limited, this form of insurance provides the most basic of cover for the most important of monthly payments.
Typically, Mortgage Payment Protection Insurance does not take in to account an applicant's occupation, gender or smoking habits when calculating premiums.
In the event of a claim, payments would start one month after the policyholder has been unable to work, and in most instances they would be paid directly to the mortgage company.
To date we have helped 376,328 people compare Protection Insurance quotes.
We would love to do the same for you...
All my questions were answered, as I know little on how life cover, critical illness and terminal insurance policies work.
I was given good independent advise, so I could confidently make my choice on what was right for me.
- Denise
No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.
- Ms Shannon
I wished some information on life insurance for a mortgage I have applied for.
All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.
- Mrs Severn
I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.
- Mrs Cookson
Very thorough yet friendly service. Good contact and information one can understand.
- Heather Cronley
The advisor put me at the heart of the transaction, was professional, gave realistic opinions and suggestions offering me choices in clear terms which I understood.
- Andrew Hughes
I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.
Marie was very sensitive when discussing personal circumstances and listened carefully and showed compassion to my details. Marie then said ‘leave it with me and ill get back to you’, within 20 minutes Marie was back on the phone with the quotes as promised and gave me a selection of options to chose from.
Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.
I cannot fault this service and the professionalism I received.
- N Marsden
Great service, easy to understand terminology. Everything explained and documented by adviser. Thank you.
- Glenda
Promoted Premiums for 35 year old male (non-smoker) February 2021*
Life Insurance: £5/month = £57,694 sum insured
Critical Illness Cover: £10/month = £25,895 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,520 sum insured