Mortgage Life Insurance

Mortgage life insurance need-to-knows.

• Here are a few need-to-knows when you want to opt for life insurance:
• Choose guaranteed premiums- this means your monthly premiums are fixed.
• Make sure you disclose every health condition and risk when applying else your insurer might not payout
• A joint policy for a couple will only pay out when the first person dies- two single policies is a better option
• Write your policy in trust and the money can’t be claimed by the taxman.
• You can switch and ditch to save but savings are not entirely possible.
• If your insurer goes bust, you are definitely protected.

How to slash the cost of mortgage insurance quotes:

Most policies offered by the mortgage provider are mostly inflated and you are under no pressure to take them.

Never go blindly with a policy that is being offered to you by your provider.

The mortgage life cover is separate from your mortgage agreement and lender. The best thing to do is to get quotes from a number of insurers.

Go directly to brokers to get the cheapest quotes.

There are two ways to about this: