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.

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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.
Mortgage Payment Protection Insurance will replace lost income and meet your monthly mortgage repayments for up to 12 months. Mortgage Payment Protection Insurance will not repay the outstanding capital you owe your mortgage lender if you were to die or become critically ill or unable to ever work again. You need Life Insurance to protect you in case you were to die and Critical Illness Insurance in case you became critically ill or unable to ever work again.

Frequently Asked Questions related to the above topic.
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