What is Mortgage Protection?
Mortgage protection insurance is a life insurance policy that pays off your mortgage if you or your partner die during the term of the mortgage. It runs for the same length of time as your mortgage. By law, your lender must make sure that you have this cover before taking out a mortgage.
In recent times, Convertible Mortgage Protection was introduced which allows you the flexibility to extend the Term of the Cover, convert from a mortgage policy to a Life Insurance Policy or take out a new policy on similar terms without being medically assessed.
Mortgage Protection can be taken out on single, joint or dual life.