With an Interest Only mortgage, you are paying the interest due only so the actual mortgage loan amount borrowed is not decreasing.
Mortgage Protection is a low-cost life insurance benefit that declines annually along with the value of your mortgage while maintaining constant premiums for the duration of the policy. It is best suited for mortgage loans that are capital and interest payments, meaning your loan with the lender will be zero at the end of the mortgage term.
If your mortgage is interest-only the non-decreasing life insurance plan will likely be more suitable as the level of cover on this plan remains the same throughout the term, just like your interest-only mortgage.
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Repays mortgage if the insured dies or suffers a terminal illness.Learn More Get Quote
Ensures the financial stability of the family if the insured dies.Learn More Get Quote
The insurance plan gives coverage against specific diseases.Learn More Get Quote
Ensures a regular income for the insured who is unable to work.Learn More Get Quote