Mortgage life insurance has a sole purpose of covering your mortgage outstanding costs in the event of critical illness or death.
Sometimes called or related to as decreasing life insurance it runs along side your mortgage repayments and reduces in cost AND payout depending on your mortgage outstanding balance.
It maybe that your partner could afford to pay the mortgage payments if either of you passed away but that is unknown and so this save guard insurance gives you both peace of mind that their will be a roof over your head in the worse case scenario.
The main advantages of this type of life insurance and what most people like is that it decreases in cost and keeps in line with your mortgage repayment outstanding (plus any costs if needed as an extra cover) at that point in time.
Mortgage life insurance is a must for partners, families, people who have dependants and who own a property with an outstanding balance on it.
If you would like us to compare the available prices to see what would work for you, let us help you by either calling FREE Phone 08081499127 now or filling out our quick and easy online life insurance comparison form.