As with all mortgage life insurance policies, there are certain things to be aware of, such as:
- It's essential that you answer all the questions we ask in your application fully and accurately. If you fail to mention something like a medical condition, for example, we may not pay out in the event of a claim. Please don't assume that we'll contact your doctor. It's your responsibility to fill in the application accurately.
- For Mortgage Decreasing Term Assurance, if your mortgage interest rates average over 10% during the policy term, there may not be enough cover to pay your mortgage off in full.
- Mortgage life insurance policies are not savings or investment products and have no cash value unless a valid claim is made.
- If you stop paying the premiums before the end of your policy, your cover will end after 30 days and you will not get anything back.
- You may want to check that the length of the policy is long enough to cover the duration of your mortgage term, otherwise you may not be fully protected.
For further details about risks and other information please read the Key Features Document (PDF: 1542KB) before applying for our life assurance products.
- The main factors are your age, occupation, smoker status, health, the level of cover you need and type of contract that you choose. Normally, the older you are, the higher the premium. Your individual height, weight, medical history and lifestyle are all assessed.
- Premium payments include costs and start from just £6 per month depending on your individual circumstances and needs. Premiums are guaranteed - you pay the same throughout the term of the policy, unless you change your cover.
- If you take out mortgage life insurance with us, you have the option to pay your premiums monthly or annually. If you choose to pay annually you will receive a discount, giving you cheaper mortgage life insurance. Find out how much you could save.