Not to be confused with
protection insurance which can be found by following this link
EasilyCovered.co.uk By selecting this link, you will leave the regulated
site of Invest & Protect LTD. Invest & Protect LTD are not responsible for
the accuracy of the information contained within this linked site.
Mortgage protection insurance is Life insurance cover specifically designed
to repay a repayment mortgage.
Due to this fact the plan has reducing cover this is set at the same rate
that the mortgage reduces ensuring that at any one time there is exactly the
right amount of life cover to meet the outstanding capital on the debt.
As this plan has a reducing benefit it means that the life insurance company
has a reducing liability into the future and as such this can significantly
reduce the overall cost of the life insurance in comparison to level term