Mortgage Life Insurance Compare Quotes From £5/Month*

Mortgage life insurance is designed to help protect your mortgage if you pass away during the policy term. If a valid claim is made, the payout could be used to help repay the outstanding mortgage balance and reduce the financial pressure on your loved ones.

You choose the amount of cover and how long you want the policy to last, usually based on your mortgage balance and remaining mortgage term. If you pass away during the policy term, the policy can pay out a cash lump sum to your beneficiaries, depending on the policy terms and conditions.

Mortgage life insurance is a type of life insurance commonly used to help protect a mortgage. Standard life insurance can be used for wider family protection, while mortgage life insurance is often arranged with the mortgage balance and term in mind.

Decreasing mortgage life insurance is designed so the amount of cover reduces over time, usually in line with a repayment mortgage. This type of cover is often cheaper than level term life insurance because the potential payout decreases during the policy term.

Level mortgage life insurance keeps the amount of cover the same throughout the policy term. This may be suitable if you have an interest-only mortgage, or if you want a fixed payout amount that could help cover the mortgage and other family costs.

Mortgage life insurance may be worth considering if your family or partner would struggle to keep up with mortgage payments if you passed away. It can provide reassurance that your loved ones may have financial support to help protect the family home.

Mortgage life insurance is not usually a legal requirement, but some lenders or advisers may recommend it when you take out a mortgage. Even where it is not compulsory, it can be useful protection if you have dependants or share the mortgage with someone else.

Yes, many providers allow you to add critical illness cover to mortgage life insurance. This could pay out if you are diagnosed with a serious illness covered by the policy, helping with mortgage payments or other financial commitments while you focus on recovery.

The cost of mortgage life insurance depends on your age, health, smoking status, medical history, mortgage balance, policy term, type of cover and whether you add critical illness cover. Comparing quotes can help you find suitable cover at a competitive price.

You can compare mortgage life insurance quotes by choosing the amount of cover you need, how long you want the policy to last, whether you want decreasing or level cover, and whether critical illness cover should be included. Comparing different providers can help you find cover that suits your mortgage, family and budget.