The Mortgage Protection plan is designed to pay off your outstanding mortgage in the event of your death. The level of cover reduces monthly during the term to reflect the fact that you are gradually paying off the mortgage. It is not designed to build up a savings fund and there is no encashment value at the end of the term.

The Mortgage Protection Plan is essentially a term life assurance plan as your life is assured with a mortgage protection plan. The main difference between the two is that the sum assured will be the value of your outstanding mortgage, which is a constantly reducing figure as the mortgage is gradually paid off.

You could be paying too much for your cover at this stage or may wish to add serious illness cover. We can review your existing cover to ensure that the plan meets your needs and the premium is competitive.