Mortgage Linked Life Assurance

Providing cost-effective, mortgage linked life assurance should be a priority, especially where there is a spouse, partner, or family to consider.

Mortgage protection insurance

Firstly, what is a life assurance policy? Mortgage linked life assurance or mortgage protection insurance is the most cost-effective way in the UK of repaying the balance of your mortgage in the event of the death of the policy holder. Decreasing term assurance is the most cost-effective way in the UK being able to repay the balance of a capital repayment mortgage, in the event of the death of the policyholder. It is worth noting that all insured parties do not necessarily need to go beyond the mortgage. If there is an insurable interest between the policyholders, then you can be insured even if not on the mortgage. There are many insurance companies that provide this type of cover. At MMPE, we help advise our clients on the most suitable insurer to suit their circumstances. This could be led by number of factors such as price, the term required, age at application, benefits of the policy, existing medical conditions and also the need for a trust.

Life insurance

At MMPE, we offer life insurance advice on products from all the U.K.’s major life assurance companies. Cover can therefore be extended to include a range of benefits;

• critical/serious illness cover
• income protection in the event of long-term ill-health
• additional family protection over and above the mortgage
• level or decreasing term assurance
• whole of life cover
• waiver of premium benefit
• indexation options
• guaranteed insurability options
• life assurance policy trusts

Insurance requirements need reviewing regularly as our lives and situations change. At MMPE we carry out regular reviews with all our clients and the policies to ensure they continue to be fit for purpose and advise where changes should be considered. Life changes, such as marriage or living with a partner, the birth of children, a change of jobs or employer benefits.