Mortgage life insurance is designed to pay out a cash sum to help pay off your mortgage if you die during the length of the policy. Meaning your loved ones could continue to live in the family home without worrying about the mortgage.
Mortgage life insurance at a glance:
* There are two types of policies to suit different needs Mortgage Term Assurance and Mortgage Decreasing Term Assurance.
* Mortgage life insurance includes SmoothMove and Free Life Cover both at no additional cost.
* You can add Critical Illness Cover at an additional cost when you set up your mortgage life insurance policy. It could pay out if you’re diagnosed with one of the specified critical illnesses during the length of the policy.
* Mortgage life insurance premiums are guaranteed to stay fixed throughout your policy term unless you alter your policy.
Important things you need to know:
* This is not a savings or investment product and has no cash value unless a valid claim is made.
* You may wish to ensure that the cover and length of the policy match the mortgage you’re protecting.
* Please read Legal & General’s Mortgage and Family Protection Key Features Document (PDF: 138KB).