Mortgage protection insurance is an insurance policy that pays off your mortgage if you or another policy holder dies during the term of the mortgage. If you have a joint mortgage, both people need mortgage protection insurance. It runs for the same length of time as your mortgage. So, if you take out a mortgage over 20 years, your mortgage protection insurance must also be in place for 20 years.
At Allied Financial we compare a number of policies from different providers to make sure that you get the best deal on your policy.
We will also make sure you are fully aware of any differences in cover between each option.
Remember this type of insurance does not cover your repayments if you can’t work because of redundancy, sickness or disability. For this type of cover, you need to consider other types of insurance such as income protection insurance.