Mortgage Life Insurance

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Why choose mortgage life insurance?

Mortgage life insurance will provide you and your family with peace of mind that should anything happen to you then you financial future is secure. This type of cover is specifically designed to pay out a tax free lump sum on death to pay off your mortgage balance. You can also choose Critical Illness Cover and Income Protection for your mortgage payments.

When thinking whether you should take out mortgage life insurance, your main concern will be “will my family be able to cope with my finances when I’m gone?”. IAM Insured offers mortgage life insurance which provides a (tax free) lump sum to your family to help clear with your remaining mortgage balance and significantly reduce their financial burdens.

Why choose mortgage life insurance?

Mortgage life insurance will provide you and your family with peace of mind that should anything happen to you then you financial future is secure. This type of cover is specifically designed to pay out a tax free lump sum on death to pay off your mortgage balance. You can also choose Critical Illness Cover and Income Protection for your mortgage payments.

When thinking whether you should take out mortgage life insurance, your main concern will be “will my family be able to cope with my finances when I’m gone?”. IAM Insured offers mortgage life insurance which provides a (tax free) lump sum to your family to help clear with your remaining mortgage balance and significantly reduce their financial burdens.

About mortgage life insurance

The mortgage life insurance policies that we offer are provided by the UK’s top insurance providers, which gives you access to some of the lowest rates on the market. We also offer five star Defaqto Mortgage life insurance which is used help those closest to you by providing them cover to clear your mortgage if you were to pass away.

If you want to settle or reduce your mortgage balance before you either pass away or sustain a terminal illness, then mortgage life insurance is absolutely essential. We also have similar plans we can offer for serious illnesses cover for you or your children.

For the majority of people, mortgage repayments will usually take up the largest proportion of your finances. If you die before your mortgage is repaid, then it will more than likely be up to your closest friends and family to cover your repayments. This can put a lot of stress on those closest to you after your gone. When taking out a mortgage life insurance policy you will be protecting your loved ones for when you are not around anymore.

The difference between mortgage life insurance and just standard life insurance is that standard life insurance provides cover for your family and mortgage life insurance is specifically to pay your mortgage, which can be a substantial financial burden for anyone who takes it on after you die.

Types of mortgage life insurance cover

Mortgage life cover

Mortgage Life Insurance

A (tax free) lump sum will be paid to your family if you were to pass away during the term of your policy. If you decide to take out a larger mortgage, a guaranteed insurability option may let you increase cover amounts or extend the term of your cover.

Mortgage incapacity cover

Income Protection Cover

Cover up to 24 monthly mortgage payments if you’re diagnosed with a condition that prevents you from working or are involved in a serious incident. Conditions for income protection include strokes, heart attacks, multiple sclerosis, traumatic accidents and cancer.

Critical Illness Mortgage Cover

Our award winning critical illness cover or serious illness cover will provide you with a (tax free) lump sum if you are diagnosed with a critical or serious illness which is covered under your policy. Y0u can choose to cover your whole mortgage balance or your mortgage payments for a period of time.

The need for mortgage life insurance depends on your current circumstances and if you value the need for sufficient cover on all the major financial commitments in your life. Mortgage life insurance is designed to provide financial security for those with a debt recorded against their property or any rental property on a level or decreasing basis depending on the type of mortgage product held.

Having life insurance with your mortgage is generally your choice, you can choose to have standard life insurance without mortgage cover if you wish. However we strongly recommend that you should consider both types of cover because each are designed to protect your home and your family individually.

Life insurance will only be available if you pass away or you are terminally ill. If you want to cover for a serious illness or other health related issues which is prohibiting you from working, then you will need to invest in our Mortgage Critical Illness Cover or Serious illness cover for Mortgages. You can also get Income Protection to provide short term protection (up to 24 months) if you are unable to work due to short term illness or injury.

Mortgage income protection cover will pay for your mortgage for up to 24 months, if you’re diagnosed with an illness or injury which prevents you from working. You are generally covered for 29 conditions that keep you in hospital for at least 10 days this includes heart attacks, strokes, multiple sclerosis, traumatic accidents and cancer.

You are able to claim as many times as you like, this is until you reach the maximum 24 monthly payments included for the duration of your plan.

Our team of expert insurance advisers will help you to get some of the best deals from the UK’s top companies and save you money.

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