Mortgage Protection Insurance

Home | Mortgage Protection

Mortgage Life
Insurance Explained
Decreasing Term
ortgage Life Cover
Level Term Mortgage Life Insurance
Including Mortgage Critical Illness Cover
Mortgage Payment Protection Insurance
Gaining Complete Mortgage Protection Insurance
Switching Cover from another Insurer
Require Total Mortgage Protection Advice?

Mortgage
Protection Insurance

Mortage protection is a term which can often refer to both Mortgage Life Insurance and Mortgage Payment Protection (MPPI).

Each protects very different risks, where MPPI protects you against the risk of illness or unemployment the life insurance covers your total outstanding mortgage on death.

Product Detail

Mortgage Life Insurance

A cash lump sum benefit for your loved ones providing them with financial protection should you pass away.

Advanced cash lump sum should you suffer a terminal illness.

Fixed monthly premiums during the life of your policy.

We compare all the leading UK insurers to find you the best deal.

Mortgage
Payment Protection

Protect your monthly mortgage repayments against the risk of accident, sickness and unemployment.

Cover an additional 25% for associated costs such as council tax and utility bills.

Choose from a range of deferred periods to suit your situation.

Choose a 12 or 24 month payment period.

Drewberry Insurance

Our aim is simple, couple expert impartial advice with a first class service.

We are wholly independent and compare all the leading insurers.

We use our buying power to find you the most competitive rates.

You are not a number in a queue getting pushed from pillar to post, speak to a named consultant with a direct phone line.

Comparison
Life Insurance
MPPI

Mortgage Payment
Payment Protection

protects your monthly mortgage repayments for up to 12 or 24 months should you be unable to work due to illness, injury or unemployment.

Mortgage
Life Insurance

is designed to pay a tax free cash lump sum should you pass away or be diagnosed with a terminal illness
during the policy term.

Pays out a cash lump sum should the worst happen.

Choose a decreasing plan to protect a repayment mortgage (declining cover) or a level term plan for an interest-only mortgage (fixed cover).

Joint mortgage life cover pays out on first event should either partner die.

Include critical illness cover to protect against the risk of serious illnesses such as cancer, heart attack and stroke.

Protect your monthly mortgage repayments against the risk of accident, sickness and unemployment (forced redundancy).

Choose a benefit payment period of either 12 or 24 months.

Cover your monthly mortgage repayments plus an additional 25% for associated costs such as council tax and utility bills.

Choose from a range of deferred periods to suit your situation.

If you are looking for insurance and require some guidance then let us help, don't worry there is no fee for this service.

Mortgage Insurance Advice

Home
Overview
Types of Protection
- Mortgage Protection
- Types of Life Cover
- Level Term Life Cover
- Decreasing Term Life Cover
- Life & Critical Illness Cover
- Types of MPPI
- Joint Mortgage Protection
- 24 Month Mortgage Protection
Life Cover
Mortgage Life Insurance
Life Insurance Quote
MPPI
Mortgage Payment Protection
Mortgage Protection Quote

Drewberry was
born out of
frustration, a lack of
being able to find the required information to make an informed decision when considering personal protection.

Our aim is simply to help guide you, we work hard to ensure we know the in's and out's of every income protection product so you don't have to. We are proud of being the experts and we try to present our knowledge in a useful manner throughout this site.

Mortgage Life
Insurance Explained

Life insurance is often taken out to remove the risk of mortgage loan default due to the borrower passing away and is particularly popular with couples, who can take out a joint policy if desired.

Decreasing Term Mortgage Life Cover
If you have a capital/principal repayment loan then taking out decreasing term life insurance is the most cost-effective method of gaining protection as the sum insured under the plan declines over time so as to stay in-line with the amount outstanding on your loan. Most plans guarantee to repay the amount outstanding on the loan if the policyholder passes away provided that your mortgage interest rate does not go above 8 per cent (although this can be varied).

Level Term Life Insurance
If you have an interest only loan then the most appropriate mortgage protection policy is a level term life insurance plan as the level of cover remains flat over time so as to stay in-line with the amount outstanding on your loan.

Mortgage Critical Illness Cover
It is also a very wise idea to consider including mortgage critical illness protection so that the plan would also payout if you suffered a serious illness, such as cancer, heart attack or stroke. Leading critical illness plans cover over 35 conditions and can be added on to your mortgage life insurance policy as an additional option, whether taken out as a single or joint plan.

Mortgage Payment Protection Insurance | MPPI

The second policy to consider as part of your total mortgage protection plan is payment protection. This type of policy pays out a monthly benefit to cover your monthly mortgage repayments should you have to cease working due to accident, sickness or unemployment (which is classed as forced redundancy).

It is usually possible to insure up to 125 per cent of your monthly loan repayments provided that this figure does not take the amount insured to above 65 per cent of your gross monthly earnings. Thus, on top of your monthly loan repayment it is possible to insure an extra 25 per cent for other costs, such as utility bills and council tax.

With this type of protection insurance (sometimes known as mortgage income protection) there are a number of stipulations in the policy wording so it is really important to speak to an adviser to check eligibility and appropriateness before taking out cover. For example, if there have been any announcements of redundancies at your place of work it would not be possible to take out cover with the vast majority of insurers.

Gaining Complete Mortgage Protection Insurance

By combining life assurance with mortgage payment protection your home loan would be covered should you pass away or suffer short-term accident, sickness or unemployment. The insurance market is there to take these real life risks off your hands.

After taking out these plans the main risk of loan default stems from the risk of serious (long-term) illness or injury. This is exactly why it is wise to include critical illness cover with your term life insurance plan. With all three policies combined your mortgage would then be protected against both short and long-term illness or injury, short-term unemployment and from the risk of passing away.

Switching Cover From Another Insurer

A large number of banks and home loan lenders offer total mortgage protection insurance when taking out a loan. The main issue with taking out these plans is that they are often vastly over-priced compared to what you should be paying in the competitive market. Banks usually only offer the products on one insurer which is very rarely likely to produce the most cost-effective result.

If you are potentially looking to switch from another insurer please let us know as the initial unemployment exclusion period can often be reduced from 120 days to 30 days on your new payment protection plan.

Require Total Mortgage Protection Advice?

If you would like some competing quotes please complete your details in the quote box provided above. On the other hand, if you would like to speak to someone to run through your requirements and policy options then one of our expert advisers would be more than happy to help.

As Drewberry is independent of any insurer we can arrange a suitable mortgage insurance protection plan from any one of our large panel of insurers and can therefore provide truly impartial advice. We want to provide you with all the information you require in order to make the best decision on your protection needs.

Drewberry Client Reviews

The personal service provided and care and thought in the whole setting up process. I could not fault anything.

Mar 18, 2012 by Terry Hughes

The personal service provided and care and thought in the whole setting up process. I could not fault anything.

Every thing was explained well to us. Full support was given and the quote was impressive too!

Mar 18, 2012 by Vicki Moore

Every thing was explained well to us. Full support was given and the quote was impressive too!

Our insurance services are rated 4.8 / 5 based on 18 customer reviews.

Publisher: Drewberry

Our aim is simply to provide you
with the best possible service.

Drewberry Insurance are a London based group of insurance experts providing insurance services to individuals and organisations
throughout the UK.

We have created this dedicated mortgage insurance resource to help you find the information you require when looking to insure your home.

Whether protecting your mortgage against illness, injury, unemployment or death we are here to help.

We would love to hear from you, whether you are enquiring about our services, a career, or a business partnership.

+44 (0) 20 8432 7333

enquiries@drewberryltd.com

Drewberry Ltd

Vantage House

1 Weir Road

London

SW19 8UX

Mortgage Protection Insurance

Mortgage Protection Insurance

Mortgage Life Insurance

Mortgage Payment Protection

Drewberry Insurance

Overview

Types of Life Cover

Types of MPPI

Life Cover

MPPI

Mortgage Life Insurance Explained

Mortgage Payment Protection Insurance | MPPI

Gaining Complete Mortgage Protection Insurance

Switching Cover From Another Insurer

Require Total Mortgage Protection Advice?

Drewberry Client Reviews

The personal service provided and care and thought in the whole setting up process. I could not fault anything.

Every thing was explained well to us. Full support was given and the quote was impressive too!

Mortgage
Protection Insurance

Mortgage
Payment Protection

Mortgage Life
Insurance Explained