Mortgage Life Insurance Review @20/02/2011

Why Mortgage Life Insurance?

Who will pay off your mortgage when you’re not around?    Help protect your family with Legal & General mortgage life insurance.

FREE £40 M&S voucher with Legal & General mortgage life insurance

Buy your life insurance direct from Legal & General online and get a free £40 M&S voucher. Terms and conditions apply. Offer ends 31/03/2011. There is no cash in value at any time. If you stop paying the premiums before the end of your policy, your cover will end after 30 days.

No one ever plans to get sick or die unexpectedly. We always think that it won’t happen to us, but the reality is that it could happen at any time. It’s not a fun subject to think about, but it has to be considered if you’re taking on a mortgage, or increasing your mortgage, as it’s such a life changing commitment.

Mortgage life insurance policies have one clear objective,  to help pay off an outstanding mortgage in the event of death, during the policy term. This means that your loved ones could continue to live in the family home even if you’re no longer with them, without worrying how they’ll pay the mortgage.

Legal & General Decreasing Term Assurance means the amount decreases over the term of the life insurance policy. This cover is usually chosen to help protect a repayment mortgage, so that the amount of insurance decreases roughly in line with your remaining mortgage debt.

Mortgage Life Insurance Example 

Fist Time Buyer - Congratulations on the purchase of your new home! Its an exciting time for you, but it’s also very expensive, and at a time when you already feel like you’re running out of cash, adding another monthly outgoing is the last thing you want to do. But it is important to think ahead when you take on that much financial responsibility. Life insurance could protect you and your dependants when you need it the most. If the worst was to happen, could your partner or family keep up the mortgage repayments without you? Having your family home repossessed is one of the last things you’d want to happen to your loved ones. Having adequate life insurance cover can help keep the family you love in the home they love.

Legal & General offer mortgage life insurance plans on either a level or decreasing basis, and there is the choice of two additional options, critical illness cover and waiver of premium.  This means that you can truly design the best plan based on your needs and budget. 

mortgage life insurance.