Mortgage Protection Insurance

Mortgage Protection Insurance is vital for any homeowner who needs to ensure that the outstanding mortgage on the family home is paid off in the event of their death or incapacitation, in order for their spouse and dependents to be able to continue to remain in the home thereafter.

The questions you need to ask yourself when considering Mortgage Protection Insurance are:

How much is needed to pay off the outstanding mortgage balance?

How long is the cover needed for? (the remaining mortgage term)

Do you need level (for an interest-only mortgage) or decreasing (for a repayment mortgage) cover?

Do you need/want any additional monies for your dependents over and above the mortgage balance?