Mortgage Life Insurance

If you are considering your life insurance options, then our team at Unity Life can help.

We’ll supply you with honest and impartial advice and with our 15 years of experience, you can rest assured that you’re in safe and capable hands. If you’re a homeowner and have not yet paid off your mortgage, you’re likely looking for a way to protect your family in the event anything happens to you.

Here at Unity Life, we provide real peace of mind with mortgage life insurance that is tailored to the specific circumstances of each individual client. There are many benefits of having mortgage life insurance, such as complete coverage for just a low monthly instalment. Applying is quick and easy, and once you’ve submitted your request, we’ll aim to have your cover in place in just 15 minutes.

With Unity Life, you’ll be free to breathe easy knowing that your mortgage life insurance requirements are being handled in a way that is entirely discreet.

Do you require mortgage life insurance? If so, speak to an independent advisor today by calling Unity Life on 0203 475 1285.

What is Mortgage Life Insurance?

If you or your partner passes away, the cost of your mortgage payments will pass to your dependents. The purpose of mortgage life insurance is to cover this cost in the form of a pay-out, which decreases over time as the mortgage is paid off. This is what is referred to as decreasing life term insurance. While having this insurance is not essential, it is advised if you have dependents living in the property.

As a mortgage is a substantial financial commitment, if your dependents are unable to cover the payments, they could find that their home is repossessed.

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How Much Does Mortgage Life Insurance Cost?

The cost will vary and is determined by several factors, including the applicants:

Age

General Health

Occupation

Lifestyle

The cost is usually lower than level term insurance where the pay-out remains constant for the duration of the policy. Here at Unity Life, we understand how important it is to shop around to find the best deal. When you consult with our team of advisors, we’ll assist you in deciding on how much cover you require and will search the market to find the right deal for you.

Do I Require Critical Illness Cover?

We always recommend that you consider applying for critical illness cover if you suffer from a serious condition. This could be a heart condition, stroke, cancer or any other life-threatening illness. The beauty of critical illness cover is that it ensures that you’re able to continue paying your mortgage even if you’re too ill to work. As with mortgage life insurance, our team can help you to find the best deal possible for your critical illness cover.

Trusts

You’ve likely heard of inheritance tax – a tax that is owed against the estate of an individual who has recently passed away. Any pay-out that your dependents receive at the time of your death can be taxed unless it is written into a trust. A trust keeps the money separate from the rest of your estate, meaning that not only will your beneficiaries receive the money quicker; they’ll also receive the full amount.

Choose the Right Policy for You

At Unity Life, we’re all about helping our clients to make the right decision when choosing an insurance policy. We’ll need a little information about yourself which we’ll use to narrow down the list of products which we feel will be suitable for you. You’ll receive a list of quotes which you’ll be free to compare, and our team will be happy to advise you on each one.

We should add that that the cheapest option isn’t always the right option. Aim for a balance between cost and level of cover and settle on an amount that you’re comfortable with without leaving yourself or your dependents over or underinsured.

Contact Us Today

If you have any questions about mortgage life insurance or would like our help in securing the right policy for you and your dependents, please contact us.

You can reach us easily by giving us a call on 0203 475 1285 or send an email to info@unitylife.co.uk.