Mortgage Cover and Protection
Mortgage Life Insurance
For most home owners, your mortgage is likely to be your largest monthly outgoing. When everything in the household is running smoothly, that is not a problem. Insurance exists for occurrences that we don’t like to think about. A mortgage life policy is to help your dependants cope financially if you die, so meeting financial obligations is not such a burden for them.
Typically, most people are looking for a decreasing term life insurance policy, known as mortgage life insurance. The policy runs for the length of your mortgage. The amount you are covered for decreases over time as you pay down your mortgage, but the monthly premiums are the same.
It is important to know that if you borrow extra money, for an extension for example, or to extend the term of your mortgage to bring down your monthly payments, that your life insurance covers these circumstantial changes.
I am experienced in sourcing products and can recommend policies closely designed to meet your circumstances and those of your family.