Guaranteed Mortgage Protection

What is guaranteed mortgage protection cover?

• It is a life assurance plan.
• It helps pay off your mortgage in the event of your death.
• It helps secure the ownership of your home and protect your family from a substantial financial burden if you die.
• The amount paid out depends on when you die during the term of the plan. The cover provided decreases over the term of the plan, broadly in line with the capital outstanding on your mortgage.

Why do I need mortgage protection?

It is compulsory to have Life cover in place when you take out a mortgage, so that in the event of your death, the balance of the mortgage is paid off. Many people take out mortgage protection cover with their mortgage provider because it is convenient; however it pays to shop around for the best premium.

Mortgage protection cover benefits:

•Protects your home by helping clear your mortgage if you die.
• Protects your family from a substantial financial burden.
• Can cover you for many serious illnesses and disabilities.
• Can cover your partner on the same policy.
• Increased cover at times when you need it.

How much does it cost?

Your premium is determined by several factors such as: your age, your health, whether you are a smoker or not, the term you select and the benefits you choose.