Mortgage Life Insurance Quote

Cheap cover to ensure your mortgage gets paid off… but it’s only protection for your lender!

Your mortgage life insurance quote will be gratifyingly cheap, because it’s got no surrender value, its value decreases as the term of the mortgage progresses, and it’s one of the few life products that is largely price-sensitive.

How often do you get good news when you’re looking at your finances? Well for once, we can offer you some. Your mortgage life insurance quote is going to be about as low as it’s possible to get.

That’s because firstly the amount of life insurance you need to cover a mortgage decreases as the term of the mortgage continues (because the amount of value covered by the mortgage is decreasing- you’re slowly paying it off!) This sort of policy is called decreasing term insurance.

Secondly, a mortgage life insurance quote isn’t designed to give you any value. If you were to die during the term of the policy, the only value in the policy is to pay off the mortgage to the lender. Similarly, you don’t get any cash back at the end of the mortgage if nothing happens to you. So there’s no extra benefit, no savings element involved.

These days, your mortgage life insurance quote is highly likely to be in the region of £10 per month per £100,000 covered; so it’s by no means a large amount compared to your mortgage payments- but equally rates vary by up to 80%, so it’s worth shopping around for the best deal.