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- Same-day cover available†
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Frequently Asked Questions
- Apply for mortgage life insurance.
- Choose your type of cover (usually decreasing cover).
- Pay your monthly premiums.
- If you pass away, your beneficiaries must notify the life insurance provider.
- The life insurance provider then pays out the lump sum (usually directly to the mortgage lender).
Monthly premiums differ with everyone; It is dependend on specific factors:
- The life insurance provider
- Your age
- Your health
- Lifestyle choices
- Total cove amount
- Duration of the cover
- Your home address
- Any add-ons
What is life insurance?
Life insurance is a financial product that pays out a lump sum to your loved ones if you pass away during the policy term. In the UK, it’s designed to provide peace of mind by helping cover mortgage payments, household bills, or other financial commitments.
What is mortgage life insurance?
Mortgage life insurance, often called mortgage protection, is a type of coverage that pays off the remaining mortgage balance if you die during the policy term. As long you pay your monthly premiums.
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Why is mortgage protection important? Do I need mortgage life insurance?
- When purchasing a house, some mortgage providers may ask you to take out a life insurance policy, although it is not legally required, it provides extra protection for your loved ones.
- Secures your home in the event of death.
- Provides long-term peace of mind for your family by ensuring any outstanding mortgage balance can be settled, reducing potential financial strain during an already difficult time.
Different types of cover you can get with mortgage life insurance.
Decreasing cover
This is a set-term policy where the payout reduces over time to cover shrinking debts like mortgages; stopping payments cancels the policy, freeing up your cash but leaving you unprotected.
Level term cover
You pay for coverage for a set time. If you stop paying, you save money now, but your family gets nothing if you pass away later.
Joint life cover
This type of cover pays out if one of the policyholders passes away during the policy term.
Critical illness cover (optional add-on)
This type of cover pays out if you’re diagnosed with a terminal illness specified in your policy terms.
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We are committed to protecting your information while assisting you in finding a life insurance policy that meets your needs.
Pricing
Quoted rates may vary and are subject to individual status and medical underwriting. Correct as of 5th February 2025.
†From £10 per month for up to £300,000 is an example based on the following pricing illustrations. £10 per month Life Insurance quoted rates are based on level term life cover for non-smokers with no pre-existing medical conditions or other high risk factors. Individual factors and medical underwriting will be assessed which may vary the premium and sum assured you are eligible for or may result in you being declined. Correct as on 5th February 2025.
£322,952 over 20 years
30 years old born in 1996
£197,619 over 20 years
35 years old born in 1991
£159,606 over 15 years
40 years old born in 1986
£92,280 over 15 years
45 years old born in 1981
£67,652 over 10 years
50 years old born in 1976
£37,971 over 10 years
55 years old born in 1971
£20,242 over 10 years
60 years old born in 1966
£12,368 over 10 years
65 years old born in 1961
£7,497 over 10 years
70 years old born in 1956
†From £5 per month for up to £100,000 is an example based on the following pricing illustrations.£5 per month Life Insurance quoted rates are based on level term life cover for non-smokers with no pre-existing medical conditions or other high risk factors. Individual factors and medical underwriting will be assessed which may vary the premium and sum assured you are eligible for or may result in you being declined. Correct as on 5th February 2025.
£117,810 over 20 years
30 years old born in 1996
£75,745 over 20 years
35 years old born in 1991
£56,577 over 15 years
40 years old born in 1986
£35,960 over 15 years
45 years old born in 1981
£26,787 over 10 years
50 years old born in 1976
£17,018 over 10 years
55 years old born in 1971
£10,115 over 10 years
60 years old born in 1966
£6,181 over 10 years
65 years old born in 1961
£3,746 over 10 years
70 years old born in 1956