The ‘exactly what it says on the tin’ insurance. The policy would pay out if you were to pass away. This can be set up a number of ways to either pay put a lump sum or a monthly benefit to those you leave behind. If using this to protect the amount of your mortgage we can set it up on a decreasing basis to ensure it covers your mortgage but keeps the costs down. Also included with this is Terminal Illness benefit so if you are diagnosed with less then 12 months to live the policy will pay out immediately.
At note from Alex – Director of Mortgage Search Centre –
Unfortunately I know first hand how vital this insurance can be, my late mother was diagnosed with terminal cancer and was given just 6 months to live. The insurance that she had in place cleared the loan she had and enabled to family to make adaptions to care for her at home as was her wish and we were desperate to fulfill.
If you are a business owner then see our business protection tab where we can save you money on your personal premiums.