Mortgage Protection
Mortgage Protection is a group of different protection products, mainly life insurance, critical illness or Mortgage payment protection. These are insurance products specifically tailored to your mortgage, so when misfortune happens you are able, for example, to repay your mortgage in order for you to not to lose your property.
It is the cheapest form of life insurance, as the policy is tailored with the mortgage term. The sum assured decreases in proportion to the remaining term of mortgage.
Do you know that….
in 2015 in Great Britain 602,782 people died? That is 1651 people per day, 68 per hour, which means just over 1 person per minute! (Source: Office for National Statistics UK 2016)
Do you know that….
50% of people that have a mortgage in the UK don’t have any life protection? And only 20% have critical illness cover in place? (Source: actuarialpost.co.uk 2016, Scottish Widows survey 10/2013)
Mortgage protection for life cover starts from £5 per month (£0.16 per day!)