- Insurance
- Life Insurance
- Mortgage Protection Life Insurance
Compare 10 Insurers Instantly:
Enter your quote details to begin. This form takes about a minute to complete.
Compare discounted premiums from the UK’s top life insurers, and even check our prices against other online services.
Complete your life insurance application online or by calling us on 0800 321 3578.
Please untick this box if you don't want to receive email updates from payingtoomuch.com in the future.
About life insurance to protect a mortgage
A Mortgage Protection (reducing) life insurance policy will pay out a lump sum in the event of a life insured’s death, during the term of the policy. You can select how much cover you need (sum assured), and how many years you will need the cover for (the term). The sum assured will gradually reduce throughout the term of the policy.The graph opposite shows an example of how a policy with a £200,000 sum assured taken out over a 25 year term is likely to reduce throughout the policy term.
What can it be used for?
A Mortgage Protection (reducing) life insurance policy is used to cover a repayment mortgage.
The sum assured on a Mortgage Protection (reducing) policy will reduce throughout the term of the policy as it is designed to cover a repayment mortgage, where the outstanding balance reduces, as the mortgage is paid off. The life insurance policy will therefore pay out enough to pay off the outstanding mortgage debt at the time of death.
The graph shows an example of how a policy with a £200,000 sum assured taken out over a 25 year term is likely to reduce throughout the policy term.
The graph shows an example of how a policy with a £200,000 sum assured taken out over a 25 year term is likely to reduce throughout the policy term.
We check our pricing regularly. Here are the results of our research last done on 14 May 2012.
Level Term, £200,000 over 20 years,
non-smoker.
non-smoker.
Age 34
Age 34
Male
Female
Payingtoomuch.com
£9.97
£8.07
comparethemarket.com
£10.64
£8.61
gocompare.com
£10.64
£8.61
confused.com
£10.68
£8.65
More Th>n
£10.88
£8.81
ASDA
£11.78
£9.48
Sainsburys
£11.78
£9.79
Tesco Bank
£14.15
£12.47
TheAA.com
£15.17
£12.22
About payingtoomuch.com
Once you've compared, you can buy your policy online through our website
Once you've compared prices & features and found the right policy for you, you can fill in the rest of your details including any medical questions on our website. We'll then set the policy up on your behalf, so you don't even need to leave our website.30 Day money back guarantee
You can cancel your application at any time up to 30 days after the policy has started and get a full money back guarantee. So you can apply and start a life insurance in the full knowledge that if you change your mind at any time you can withdraw from the transaction and get a full refund of any premiums paid.Peace of mind
We can provide you with peace of mind. You can search all the options, select the one that suits your budget and circumstances and complete your application online or by phone.Once you are covered you can rest assured that your dependants are well protected giving you that valuable peace of mind. Should you no longer require the cover at any time in the future you can simply stop paying the premiums and the cover will cease, no questions asked and without penalty.