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What is the Difference Between Life Insurance and Mortgage Protection?

Life Insurance covers you for a fixed lump sum that does not change throughout the term. Mortgage Protection covers you for an initial amount which then decreases year on year, usually in line with your mortgage balance.

If your mortgage is interest only, it is possible a life insurance plan may be a more suitable cover to protect your property in the event of your death.

 

Read more about:

  1. What is Specified Illness Cover?
  2. What is the Difference Between Single, Joint, and Dual Cover?
  3. I have Diabetes. Can I Get Life Insurance?

 

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Mortgage Protection

Repays mortgage if the insured dies or suffers a terminal illness.

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Life Insurance

Ensures the financial stability of the family if the insured dies.

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Life & Serious Illness cover

The insurance plan gives coverage against specific diseases.

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Income Protection

Ensures a regular income for the insured who is unable to work.

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Whole of Life cover

If you are looking for a life cover plan with a guaranteed payout then a Whole Of Life Cover Plan is just for you.

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