Compare Mortgage Protection
You have the option of choosing your Mortgage Life Cover on whichever basis best meets your personal financial planning needs. These are your choices.
You can use our Quick Quote form at any time
Level Term Assurance
This is a straight Life Policy (or Death Policy, depending on which way you want to
look at it). Level Term Assurance will pay out a fixed amount, (the Sum Assured) agreed at the outset (Inception) of the policy in the event of death, or, optionally, serious illness or disability.
The Sum Assured will remain the same (Level) throughout the whole of the Policy Term, which means in the event of a claim in year two, or in year twenty-two, the full Sum Assured will be paid out, leaving the surviving family with enough momey to clear the mortgage debt, perhaps with some surplus funds available, maybe to clear credit card debts or car loans, or perhaps just to have a holiday while trying to come to terms with the sad loss.
Mortgage Protection Assurance
Mortgage Protection Assurance (also known as Reducing Term Assurance, or Decreasing Term Assurance) is a cheaper form of life cover, as the level of cover reduces, or decreases throughout the life of the contract, with the intention of leaving sufficient funds to pay off the mortgage in full, without any substantial surplus.
As the cover is reducing each year, the potential pay out will be less each year, so the policyholder is not paying for extra cover he or she doesn't need.
Whichever option you choose as most suitable for your own circumstances, Mortgage-Protection-Assurance.co.uk will ensure you have the facts and figures you need to help you make your decision. You may use our Quotation Request Form to get a personalised quotation for Mortgage Life Cover