Mortgage Term cover is protection cover taken out for the term of the mortgage to protect your home in the event your untimely death, so that you and your spouse or partner have peace of mind knowing that your mortgage will be paid off in such an event and you are safe in your home. Mortgage lender insists on a mortgage term being in place.
Mortgage Protection Life cover with a decreasing term to cover for any outstanding mortgage in the event of your untimely death during the term of the policy.
Mortgage Term with Life and Specified illness Cover which is designed to pay off the outstanding balance on your mortgage in the event you become seriously ill or death during the term of the policy.
Why Do You Need It ?
If you become seriously ill or die prematurely your policy is used to:
Clear your mortgage
Secure ownership of your home
Reduce your monthly cost of living if you become seriously ill