Mortgage Protection

protecting your familyMortgage protection insurance is a life insurance policy that pays off your mortgage, if you or your partner dies, during the term of the policy.
The policy has a term identical to your mortgage and the benefits reduce in as the balance on your mortgage decreases.

In general, a mortgage protection policy is a condition of a mortgage loan and is assigned to your lender. On death, the sum insured is paid to your lender, leaving your family home debt free.

A mortgage protection policy has the following features.

  • The premium is fixed for the duration of the policy
  • The primary benefit is the full repayment of the of the current balance on your mortgage. If you pass away, the insurer pays the benefits directly to a lender.
  • The premium is calculated by reference to age, mortgage amount term and your medical history.
  • The level of mortgage protection cover reduces from year to year as the amount you owe on your mortgage goes down.

At Future we will shop the market on your behalf to ensure that you get the best possible cover at the most competitive price.

Contact Future today for advice on your Protection needs.