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Guaranteed Mortgage Protection:

  • It is a life assurance plan.
  • It helps pay off your mortgage in the event of your death.
  • It helps secure the ownership of your home and protect your family from a substantial financial burden if you die.
  • The amount paid out depends on when you die during the term of the plan.
  • The cover provided decreases over the term of the plan, broadly in line with the capital outstanding on your mortgage.

Why do I need mortgage protection?

It is compulsory to have Life cover in place when you take out a mortgage, so that in the event of your death, the balance of the mortgage is paid off. Many people take out mortgage protection cover with their mortgage provider because it is convenient; however it pays to shop around for the best premium.

Mortgage protection cover benefits

  • Protects your home by helping clear your mortgage if you die.
  • Protects your family from a substantial financial burden.
  • Can cover you for many serious illnesses and disabilities.
  • Can cover your partner on the same policy.
  • Increased cover at times when you need it.

How much does it cost?

Your premium is determined by several factors such as: your age, your health, whether you are a smoker or not, the term you select and the benefits you choose.