Mortgage Protection Insurance can include Life Insurance and Critical Illness Cover and is designed to clear your mortgage if you were to die or suffer a serious or critical illness.
If your mortgage is on a Repayment basis, then usually Mortgage Protection is written on a decreasing basis so that the level of cover reduces in line with the mortgage debt.
If you mortgage is Interest Only, then the cover needs to be written on a level basis, to ensure that at any point, the cover clears the mortgage.
There are lots of other options that can be built into the plan, so it is vital to get advice to ensure the cover is most suitable to you.
Being a firm of Independent Financial Advisers, Bankfield has access to some of the most competitive terms and we will examine your individual circumstances and recommend which type of cover is most suitable for you and your family’s needs, to suit your budget.
We can usually beat the cost of your existing cover.
Call us now on 0116 253 5600 to speak to a qualified adviser and see how we can save you money and protect your family.