Mortgage life insurance.
Are you a first time buyer looking for mortgage life insurance? Maybe you’re already covered, but looking for a better deal?
Our mortgage life insurance policies are available from as little as £6 per month. You can apply online today and could get immediate cover. There are two options to choose from:
- Mortgage level term assurance allows you to choose the amount of cover you need and the period of cover you want to be insured for.The level of cover will remain the same.
- Mortgage decreasing term assurance also allows you to choose the amount of cover and period of time. It’s designed to help protect a repayment mortgage as the amount of cover decreases roughly in line with your remaining mortgage debt.If you choose decreasing cover there are some circumstances when the lump sum we pay might not be enough to pay off your mortgage in full. For example, if your mortgage interest rate averages over 10% during the period of cover.
Unless you choose to exercise your guaranteed insurability option, your premiums will never change. So you always know what your monthly premiums will be, allowing you to budget with confidence. Your individual premium will depend on your needs and circumstances.
It might also interest you to know that when you take out mortgage life insurance with us, you have the option to pay your premiums monthly or annually. If you decide to pay annually you will receive a discount, giving you cheaper life insurance. Find out how much you could save.
SmoothMove
When you purchase mortgage life insurance with us, you'll receive details of our free 24-hour moving day rescue service, SmoothMove. So if there's an emergency when you move house, services such as car recovery, hotel accommodation and legal advice are just a phone call away.
To provide SmoothMove, we've teamed up with Inter Partner Assistance, one of the largest international emergency assistance groups. This is an additional benefit to our customers at no extra charge.
Free cover between exchange and completion
We also offer free life cover between exchange of contracts and completion of your property purchase. The amount of free life cover will be your proposed sum assured, the amount of your loan or £300,000, whichever is lowest.
In Scotland we provide the free cover from when you complete missives for your chosen property until the date of entry. We cover you for 90 days from when you exchange contracts (or in Scotland complete missives). To be eligible for this cover the following conditions must apply:
- You're under 55 when you apply (for joint policies this will apply to the older policy holder).
- You've been accepted on standard terms.
- The exchange of contracts has taken place.
- No other policies covering the same mortgage can be in force or applied for and your duty of disclosure continues until completion (or date of entry in Scotland).
Extra cover options
When you apply for a mortgage life insurance policy with us you can choose to add on extra cover options, for added peace of mind and protection. These extra options are:
- Critical illness cover - which pays out your chosen amount of cover if you're diagnosed with one of the specified illnesses and are eligible to claim during the policy term.
- Waiver of premium - which means you don't have to pay any premiums if you suffer incapacity caused by illness or injury that stops you working for more than 26 weeks.
How useful did you find this page?
9am to 5pm Saturday
We may record and monitor calls.
Key Documents
PDF: 37KB
5 Star Defaqto Rating
Your recently viewed items
You need javascript enabled for us to remember your Recently Viewed Items.
You might also be interested in...
Life Insurance
Help protect your loved ones future with life insurance starting from just £6 a month
Critical illness cover
Get extra protection for you and your family with our award-winning critical illness cover.
Over 50s life insurance
With 3 types of plan, choose the one that suits you. Giving you more than one way to protect your loved ones.
© Legal & General Group plc 2010
