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INSURANCE DEFINITIONS - MORTGAGE PROTECTION - CRITICAL ILLNESS
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Unlike many things today the cost of Life Assurance, Mortgage Life Protection and Critical Illness Protection has fallen in recent years. (mortgage protection uk)

The competitive nature of these products has meant that many life offices have actually reduced their rates for this type of cover.

The mortgage protection UK policies are designed to insure against being able to continue making mortgage payments due to sickness or unemployment. In the case of the insured becoming sick, having an accident or being made unemployed, the mortgage protection insurance cover meets the mortgage interest and repayments or life assurance premiums.

Our Discount mortgage protection Policy

We share our commission with you the customer. We do this by sacrificing a substantial percentage of our commission, which will reduce your premiums throughout the term of the policy. Because of this commission sacrifice we believe that we offer the most competitive quotations in the U.K.

Some product providers do not have a facility for us to rebate commission to reduce your premiums. We will only use these providers where they can offer the most competitive quotation.

Our Aim

Is to provide competitively priced quality products and a first class service.

If you have an existing policy that you have been paying for a number of years, or if you are considering taking out a new policy to cover your mortgage or business loan.

We believe we can provide you with the most competitive quotation available.

Mortgage Life Protection Assurance - Summary of Cover

You decide on a sum insured and a term of years from the outset.

The plan has no investment content.

The sum insured reduces each month during the term.

The plan is designed to pay a sum insured that will be equal to the outstanding capital amount under a standard repayment mortgage.

If you die during the specified term then the sum insured is paid out.

Can be set up as a single life plan, insuring one life for a predetermined sum insured and term.

May also be set up as a Joint life first death plan where the sum insured is payable on the first death.

Critical Illness benefit can be added to most plans where the benefit is paid on either death or a critical illness whichever should occur first.

Terminal Illness benefit is normally payable on most policies during the term of the policy, this usually excludes the last 18 months of the policy term.

As soon as the sum insured is paid out the mortgage protection plan ceases.

If you survive the term and the sum insured has not become payable then the plan ends and nothing is paid out.

In most cases these Products are non-Regulated. However should your chosen Product fall into a regulated category we will advise you accordingly. This is an overview of protection products. With your application pack we will provide a Written Quotation, the Individual Company's Key Features and Full Product Details.

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