Mortgage Protection Service

For Personal UK & International Life & Critical Illness Cover

Mortgage Protection Service

Clifton private finance

We can source mortgage life & critical illness cover for UK residents and Expats

Expert advice on your life cover options.
Our life and critical illness insurance service provides:
  • Expert advice on this complex issue
  • The right advice to suit your circumstances
  • Options including term life cover 
  • Options including whole of life cover 
  • Options including critical illness cover 
  • Options including income protction cover  
  • Access to providers 
Through our specialist market knowledge we can help you find bespoke protection cover for your circumstances.
Call our team on  0203 900 4322 to discuss your requirements.

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Mortgage Protection

What is Mortgage Protection Insurance?

Mortgage protection insurance is a type of long-term life insurance. It can also be known as decreasing life cover. This is designed to help you, your family or your spouse in the event that life circumstances render you unable to make your mortgage payments.

This takes different forms:

How does it work?

This type of insurance is designed to help you protect your home as an asset. If you choose to take out a policy, this would ensure that your loved ones (family or a spouse) maintain the right to your property in the event of your death or a serious illness which renders you unable to continue paying your mortgage.

Over time, as you make more mortgage payments and your equity in your home grows. As the balance you have outstanding in your mortgage decreases, you will need less cover.

Therefore, your need for mortgage protection will decrease over time. This is why it can also be known as decreasing life cover – because the amount that you need covered decreases over time as you continue to make your mortgage payments.

Why do I need mortgage protection insurance?

Mortgage protection insurance is intended to help you protect your asset – in this case, the asset is your home. For most people, your home will be your most expensive possession and largest investment. You’d happily buy contents insurance for the furniture in your home, and we happily insure our homes against damage (e.g. flood damage, weather damage). But mortgage insurance rarely seems to be at the top of any homebuyers to-do list, even though it should.

What mortgage insurance protects you against is “worst case” scenarios, including:

Depending on the type of insurance cover you have chosen, the payout you receive in the event of one of these instances will obviously differ.

Obviously, these are not situations that you particularly want to dwell on when basking in the glow of a newly-purchased home – but, with all other forms of insurance, you’ll wish that you had taken it out if the worst case scenario arises. And considering that one in two Britons are diagnoses with some form of cancer at some point in their life, it is possible that you may end up being very grateful for that insurance policy.

Will I need a medical exam before taking out a policy?

This might be necessary, but providers will make this decision on a case-by-case basis. Providers will get you to fill out a medical questionnaire and you’ll need to ensure you are transparent in your answers otherwise this could cause issues if you attempt to claim. There are options for a “guaranteed acceptance” policy with some providers, however these are fairly expensive.

They are unlikely to require one from you if:

Which kind will I need?

Depending on your individual circumstances, the kind of insurance that you’ll need

An experienced broker will be able to identify the most appropriate – and cheapest – finance for you in this specialised area of the buy to let market, and will package your application to make sure it meets the lender's criteria.

Call Clifton Private Finance

One of our specialist mortgage advisors will be happy to discuss your requirements with you:

Call us on 0203 900 4322 to discuss your requirements.
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