For most people a mortgage is their biggest expense and therefore should be the number one priority for protection. For those with a Capital & Interest or Repayment mortgage a simple mortgage protection policy is the answer. The value of the cover or sum assured decreases in line with the outstanding mortgage over a selected term. This is often the cheapest form of cover available.

Level Term Assurance

Those with an interest only mortgage should consider whether the method chosen to repay the mortgage will still repay it in full if they die before the end of the mortgage. If not, a level term assurance is most appropriate. A sum assured is selected in line with the outstanding mortgage and remains constant until the mortgage is paid at which point all cover ceases.

Level term assurance can also be used to provide additional protection for one's dependents. You simply select a sum assured to provide a lump sum to your dependents in the event of your death. Many people choose a term up to when the children are no longer financially dependent on them.

Did you know that 33% of people have no insurance to pay off their mortgage if they die?*

How much cover do I need?
The answer depends on the individual circumstances. However, please try our basic calculator to give you an indication of appropriate levels of cover.

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*Source - National Statistics Online