Mortgage Protection

Mortgage Protection is cover that is designed to pay off your annuity mortgage in the event of your death. It’s a relatively inexpensive cover as the sum assured reduces as you pay off your mortgage. The term of the cover is linked to the term of the mortgage and the premium is guaranteed not to increase during the term of the policy.

If you are taking out a mortgage, your lender will require that you have some form of mortgage protection. The rates for mortgage protection can vary greatly from company to company so it is advisable that you look at a variety of providers before taking out a policy.