Re mortgages

Mortgages are secured on the value of your home meaning that you must obtain a valuation of your home. The mortgage repayments come out of the income of the applicants for the mortgage. So if, for any un-foreseen circumstances, you are un-able to afford the repayments, your home will be at stake. A Mortgage protection policy is a pure life insurance policy with a falling sum assured, designed to protect the remaining owing of a repayment mortgage.

Mortgage Protection:

Mortgage Protection insurance provides you with cover, should anything happen (such as losing your job) which may cause you to be unable to keep up repayments.
Or should the person paying the monthly repayments happen to die, there may be no way for the bereaved to keep up the mortgage repayments. A potentially devastating situation could occur where as by your dependents may lose the house. You need to take out a life insurance policy to cover these circumstances.