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How much should you insure for?
The rate you pay is charged per £100 of income you need. So, you should insure for the next £100 above the cost of your monthly mortgage repayment.
Hot Topics
- How long should I insure for?
- It makes sense to keep the insurance in place for as long as you have a mortgage.
- Are There Any Situations That Would Result In My Claim Being Refused?
- Yes there are the usual exclusions. These are summarised below but you should carefully read the paperwork that comes with your insurance documents.
- You want to ensure that your monthly mortgage repayments are paid on your behalf if you were off work due to sickness, accident or unemployment. What sort of insurance do you need?
- You need Mortgage Payment Protection Insurance. This type of insurance is also know as Accident, Sickness and unemployment (ASU) Insurance.
- Should I include Terminal Illness Insurance?
- Terminal Illness Insurance is generally included at no extra cost on all Mortgage Life, Life and Critical Illness policies.
Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -
- What is mortgage life insurance ?
- What happens if you need mortgage cover quickly for a house purchase ?
- Is there any investment value ?
- What is Short Term Income Protection Insurance? (Also known as Accident Sickness and
- What is Mortgage Payment Protection Insurance?
- Is Mortgage Payment Protection Insurance the same as a Mortgage Insurance Guarantee?
- Will Mortgage Payment Protection Insurance pay out immediately you make a claim?
- Are there any situations that would result in your claim being refused?
- You want a lump sum if you were to die or become very seriously ill and could not work again. What sort of insurance do you need?
- How long should you insure for?
- Do you have to buy your Mortgage Payment Protection Insurance through your mortgage lender or mortgage broker?
- When would normal life insurance be used in connection with a mortgage ?
- Should you have a “Guaranteed” or a “Reviewable” policy?
- Go to menu of Frequently asked Questions about Mortgage Payment Protection Insurance
- Go to menu of Frequently asked Questions about Critical Illness Insurance
- Go to menu of Frequently asked Questions about Critical Illness Insurance
- Go to menu of Frequently asked Questions about Life Insurance