Mortgage Life Assurance

Find the best mortgage life assurance deals with First Mortgage – the impartial search resource you can rely on.

With many standard repayment mortgages you will not receive automatic insurance cover or payment protection. Although some companies will offer it along with their agreement, it is usually better value to shop around for individual life assurance policies and take out separate cover. With hundreds of different offers to choose from, this can be confusing. First Mortgage can find the best life assurance deal for you, no matter what your circumstances.

What is Mortgage Life Assurance?

Mortgage life assurance is a guarantee that allows any outstanding mortgage payments to be paid off in full should you die before the end of the term. This means that your dependants will not have to finish the mortgage payments in the event of your death – making it a very useful policy for couples. This type of cover is sometimes called decreasing life assurance, because the amount needed to be paid in the event of a claim goes down over time (as you pay off your mortgage). You may also want to think about term life insurance. This is a form of mortgage protection that ensures that the amount you receive will remain the same throughout the policy period.

Is Mortgage Life Assurance right for you?

Most lenders recommend life assurance, and First Mortgage can help you find the best value deal. It is less of a priority for people with no dependents, but nonetheless it should be a consideration for most people looking to take out a mortgage. It’s usually best to find a policy with fixed premiums, meaning that your monthly payments won’t change. We can also help you arrange a joint policy for couples or friends that co-own a house. Your policy will also be based on age, financial circumstances and overall health.

What other types of mortgage protection can I find?

You may be suited to another type of mortgage protection:

  • Term life insurance
  • Mortgage payment protection
  • Accident, sickness, unemployment cover
  • Buildings and contents insurance
  • Income protection

To discuss mortgage life assurance and find the best deal for you, call us on 0345 603 1525 to talk with one of our experienced consultants.