Pension Mortgage Protection

Mortgage protection policy & Pension mortgage protection

Life assurance cover should be arranged on the mortgage. It is suggested that you start a mortgage protection policy on the lives party to the mortgage to repay the amount of capital you still owe if any life party to the mortgage dies before the loan is repaid.

The sum assured under such a policy gradually decreases as the loan is being repaid; it therefore keeps the cost of the life cover to a minimum.