How is Mortgage Life Insurance different from Life Insurance?
The main difference is that it offers decreasing cover.
Mortgage Life Insurance is the best solution
if you have a Repayment Mortgage, as the cover you are
paying for decreases in line with the capital you owe on your mortgage.
This reduces the cost of your insurance and makes it especially cost effective.
If you have an Interest Only Mortgage that
you wish to cover, or you want life insurance that isn’t associated
with a mortgage, you should stick with ordinary Life Insurance.
Other relevant questions…
Should
I consider Mortgage Life Insurance instead?
How does decreasing
cover insurance work?
personal loans
Is Life Insurance for me?
What else do I need to know about Life Insurance?
How do I get a Life Insurance Quote?
How do I choose the right policy for me?
What if I need cover to be arranged quickly?
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How are premiums calculated?
What if I have to make a claim?
Do I need Mortgage Life Insurance instead?
Should I consider Critical Illness cover?
What other sorts of Insurance should I think about?
How do I make a complaint?
What do I need to know about the law and Life Insurance?
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