Mortgage Protection Insurance

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Your mortgage may be the biggest commitment you have, so it makes sense to ensure it is safeguarded. If you were to lose an income through death or critical illness, it is important that you or your family are able to repay your mortgage.

With Mortgage Protection Insurance you can protect the balance of your mortgage in the event of death, critical illness or permanent disability (if selected), often with many additional benefits as standard, meaning you or your family could remain in the home in any of these eventualities, mortgage free.

Spectrum FA has been advising on Mortgage Protection Insurance for many years and we have helped many individuals and families to secure their most valuable asset. Our advisors have access to the leading insurers, so we will provide you with tailored advice and the right level of cover for your individual circumstances.

To find out more about how you can protect your family and your home from unforeseen events, please contact Spectrum FA today to arrange a free, no obligation protection review. You can get in touch by completing the contact form on the website, or via email at info@spectrumfa.co.uk, or by phone on 01279 315 013.

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Flexible Cover

Spectrum FA provide tailored advice on a range of Mortgage Protection policies from the leading insurers and we can advise you on the exact level of cover for your circumstances.

Optional Benefits

Many policies come with added benefits as standard and Spectrum FA will advise on all the optional extras to provide bespoke cover that fits your needs.

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Friendly Advice

Spectrum FA’s advisors work only for our clients, taking all of your circumstances into account to provide a truly bespoke service.

Frequently Asked Questions

What is Mortgage Protection Insurance?

Mortgage Protection Insurance is a policy taken out by an individual or couple to protect the remaining balance of their mortgage. In the event of death, critical illness or permanent disability (if selected), Mortgage Protection Insurance will pay the chosen amount as a single lump sum. This will give peace of mind knowing you or your family can pay the remaining balance of the mortgage in full.

There are different options and types of mortgage protection policies available, so it is important you receive advice on the correct policy for you, depending on your circumstances and the type of mortgage you have. This will ensure in the event of a claim the lump sum that is paid out, will be sufficient to cover the full balance of your mortgage.

Why have Mortgage Protection Insurance?

A mortgage is often the largest commitment you may have. If you have a mortgage, whether it is a repayment or interest only mortgage, it is important you have plans in place to protect the balance of your mortgage, in the event of death or serious illness.

The purpose of Mortgage Protection Insurance is to pay a lump sum of money that is equal to the remaining balance of your mortgage, in the event of your death, critical illness or permanent disability (if selected). This will enable you or your family to repay the mortgage in full and continue to live in the property, mortgage free.

What does Mortgage Protection Insurance cover?

Depending on your circumstances and the type of mortgage you have, this will depend on the type of policy that is suitable for you. It is important that you have the correct policy to cover the full balance of your mortgage.

There are a few variations of mortgage protection policies, which include:

  • Mortgage Term Assurance
  • Mortgage Critical Illness Cover
  • Mortgage Decreasing Terms Assurance
  • Mortgage Decreasing Critical Illness Cover

The type of policy that is suitable for you, will depend on factors such as whether you have a repayment or interest only mortgage. You can be covered in the event of death, critical illness and permanent disability (if selected) and the policy will pay a lump sum of money in the event of a claim, so you or your family can pay the remaining balance of your mortgage in full.

Spectrum FA will advise you on the most suitable policy for you. Please get in touch today to see how we can help you protect your mortgage.

Where can I get Mortgage Protection Insurance?

Mortgage Protection Insurance can be purchased through a variety of insurance providers on the market, with different optional extras, which is why you may need guidance from an expert advisor who can explain these options to you.

Spectrum FA’s trusted protection advisors have been helping families for many years and have helped their clients to secure the financial future of their home. Our advisors understand this area of expertise and are able to advise you through the process from start to finish, taking your unique circumstances into account before recommending the most suitable policy for you.

If you would like to speak to one of our advisors about Mortgage Protection Insurance, please contact Spectrum FA today to arrange your free, no obligation review of your protection needs. You can contact us by completing the contact form on the website, by emailing us at info@spectrumfa.co.uk, or by phoning us on 01279 315 013.

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