How Much Should You Insure For?

For mortgage protection purposes the initial sum insured must always equal the capital sum outstanding on your mortgage. You should also insure yourself for the same number of years that are remaining on your mortgage.

All proceeds from insurance policies are tax-free.

IMPORTANT:

If you need insurance that would pay your monthly mortgage payments if you were off work through sickness, accident or unemployment, then you need Mortgage Payment Protection Insurance.

If you need insurance that repays your outstanding mortgage capital if you became critically ill, you need Critical Illness Insurance.

Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -

• What is mortgage life insurance ?
• What happens if you need cover quickly in order to complete a house purchase?
• You have a Repayment Mortgage. What sort of Life Insurance do you need?
• Is there any investment value ?
• You have an Interest Only Mortgage. What sort of Life Insurance do you need?
• Should you include Critical Illness Insurance on your policy?
• Should you have a “Guaranteed” or a “Reviewable” policy?
• What are the most common optional extras you can have with a Life Insurance policy?
• What is Mortgage Payment Protection Insurance?
• When would normal life insurance be used in connection with a mortgage ?
• You want to ensure that your mortgage is paid off if you were to die or become seriously ill and could not work again. What sort of life insurance do you need?
• Go to menu of Frequently asked Questions about Mortgage Life Insurance
• Go to menu of Frequently asked Questions about Critical Illness Insurance

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This web site is owned by Andromeda Webs Ltd. Andromeda Webs Ltd, is an Appointed Representative of Web Publishing House Ltd. Web Publishing House Ltd is authorised and regulated by the Financial Services Authority for insurance mediation.