Mortgage Protection

A mortgage protection insurance policy will pay off your mortgage should you die. It runs for the complete term of your mortgage.

For example, if you take out a mortgage with a term of 30 years, your mortgage protection insurance must be in effect for 30 years.

It is a condition of every mortgage that mortgage protection insurance be put in place before the mortgage can be drawn down. However, you are allowed to change insurance providers during the term of your mortgage.

A basic mortgage protection policy won't cover your repayments if you cannot work due to redundancy or illness. However, it is possible to modify your policy to include such risks.

Moneyworks will shop aroud all the Insurance companies for you, for Free, to get the best policy suitable for your needs at the cheapest price availible on the market. 



Last Updated ( Tuesday, 17 May 2011 10:52 )  
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