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?

You need either Life Insurance if you have an interest only mortgage, or Mortgage Life Insurance if you have a repayment mortgage. Then you need to add Critical Illness Insurance. You can do this all in one policy.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

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What is Mortgage Payment Protection Insurance?
Mortgage Payment Protection Insurance pays your monthly mortgage repayment if you were off work due to sickness, accident, or unemployment. (Don’t forget that your home is at risk if you fail to keep up the repayment of loans secured against it.)
Is Mortgage Payment Protection Insurance the same as a Mortgage Insurance Guarantee?
No. Mortgage Payment Protection Insurance is totally different to a Mortgage Insurance Guarantee.
For how long will the policy continue to pay your mortgage?
The Mortgage Payment Protection Insurance will pay your mortgage for up to 12 months or up to when you return to work, whichever is the sooner.
Are There Any Situations That Would Result In My Claim Being Refused?
Yes there are the usual exclusions. These are summarised below but you should carefully read the paperwork that comes with your insurance documents.
Do you have to buy your Mortgage Payment Protection Insurance through your mortgage lender or mortgage broker?
No, you don’t have to buy through your mortgage lender or mortgage broker and it will almost certainly be cheaper here online.
If you take out these two insurances as separate policies the insurance will cost you a lot more - so make sure you get a combined policy.