Mortgage protection.
A mortgage is the biggest financial commitment most of us will ever take on. Mortgage life insurance policies have one clear objective — to help pay off an outstanding repayment mortgage in the event of death.
One clear objective: clear the mortgage.
Mortgage protection is a form of life insurance sized specifically to clear your outstanding mortgage if you die. Usually written as decreasing term assurance (the sum insured falls in line with a repayment mortgage), it is one of the cheapest forms of protection you can arrange and it is almost always the first policy we discuss with a new home-buyer.
- Sized to match your mortgage — The sum insured reduces in line with your repayment mortgage balance.
- Very affordable — Because the average payout is lower than level term, premiums are among the cheapest available.
- Joint life or single life — Joint life pays out on the first death and is usually the right structure for married couples with a joint mortgage.
- Placed in trust — Where appropriate, we place the policy in trust so the payout goes to your family quickly.
- Combined with critical illness — You can add critical illness cover to the policy for a small additional premium.
Three steps. One person. No jargon.
The same process for every mortgage protection enquiry, whether it is your first mortgage or your fifth.
The household conversation
We start with who depends on your income and what your household commitments look like, before we look at any policy.
Compare the small print
We compare exclusions, definitions, and premiums across the market. Cheaper is not always better on protection.
Written recommendation
You get a plain-English report explaining what we recommend, what it covers, what it does not, and what it will cost.
What you will pay.
We do not charge you a fee for protection advice. We are paid a commission by the product provider, which is included in the premium and disclosed to you in writing before you commit to anything.
Our recommendation is based on what is right for your household, not on which provider pays the most commission.
Questions we get about mortgage protection.
01Do I need mortgage protection if I already have life insurance?+
Not necessarily. If your existing life cover is enough to clear the mortgage and leave something for the household, you might not need a separate mortgage protection policy. We review your existing cover before recommending anything new.
02Should it be joint life or single life?+
For married couples with a joint mortgage, joint life is usually right and cheaper than two single life policies. For unmarried couples or where one party has substantially different circumstances, two single-life policies may be better.
03What happens when the mortgage is paid off?+
The policy ends when the term ends. If your mortgage is paid off early, you can cancel the policy without penalty (most modern policies have no surrender value).
04Can I combine mortgage protection with critical illness cover?+
Yes. Adding critical illness to a mortgage protection policy is often much cheaper than buying two separate policies, and it means the mortgage gets cleared on either death or a critical illness diagnosis.
Where clients typically go next.
Life happens.
Let’s take care of it together.
Book a call directly with Anthony. Evenings and weekends available. No forms up front, no pressure.