Insurance
Mortgage life insurance
Whole-of-market protection advice. We compare leading UK insurers to find the right cover at the right price.
Mortgage & Protection Adviser, Founder
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Mortgage life insurance
There’s nothing quite like the feeling of securing your dream home, a property that ticks every box, somewhere you can see yourself living for the foreseeable future. But, that could be taken away from you at a moment’s notice. If the worst were to happen, could you keep up with mortgage payments? Would your family be able to take on the burden? There’s no guarantees, which is why a number of homeowners turn to life mortgage life insurance.
At Everest Mortgages, we help you understand how mortgage life insurance works, what type of cover suits your home and budget, and how to secure a policy that works for you.
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What is mortgage life insurance?
Mortgage life insurance is designed to pay off your outstanding mortgage balance if you die during the term of the policy. The money from the policy is intended to clear any remaining mortgage debt, remove the risk of repossession, allow your partner or family to stay in the property, and reduce financial stress.
There are a few different types of mortgage life insurance, but a number of homeowners opt for decreasing term life insurance. With this cover, the payout reduces gradually over time, and the decline usually reflects your decreasing mortgage balance. If anything happens to you, your family can use the payout to clear the mortgage in full, rather than struggling to keep on top of unaffordable repayments. Level term life insurance is also an option, which pays a fixed amount throughout the policy.
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Should you get mortgage life insurance?
Though lenders don’t require it, most homeowners choose mortgage life insurance because it protects the people who matter most. How would your partner or children continue paying the mortgage? Could they keep the home on a single income, or no income at all? Would they be forced to sell during an already difficult time? For many families, the mortgage is their biggest financial commitment, which is why having cover in place can remove a huge potential burden.
Mortgage life insurance with a medical condition
Having a pre-existing medical condition won’t stop you from getting mortgage life insurance, and a diagnosis is unlikely to prevent you from being approved for a policy. Your mortgage life insurance options will depend on your medical history, the treatment you’ve received, current medication, long-term management and the insurer’s approach. Some insurers specialise in covering certain health conditions, which means choosing the right provider can make a huge difference in price, suitability and the level of cover you receive.
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Finding the right mortgage life insurance policy for you
Working with a specialist can help to ensure that you’re matched with the right insurer from day one, which is where we come in. At Everest Mortgages, we know mortgage life insurance isn’t about choosing the cheapest option, it’s about choosing the right one. Our expert advisers compare policies across the market and guide you through the process, ensuring you find insurance that matches your mortgage and provides the level of protection you need. We’re here to help you to find clear, reliable, affordable protection for your home and family.
John Everest
Mortgage & Protection Adviser, Founder
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John is a CeMAP-qualified, whole-of-market mortgage adviser and Director of Everest Mortgage Services. With over 21 years in financial services, and a track record of 1,000+ mortgages arranged.
- 15-minute call, no commitment
- Whole-of-market, FCA regulated
- Clarity and confidence in your next move
14+
Years experience
1,000+
Mortgages arranged
Trusted protection advice
Why choose Everest Mortgages?
Independent protection advice that puts your family first, with cover built around your home, your health and your budget.
Cover that fits your life
Level or decreasing, single or joint. We match your cover to your mortgage, your family and what you actually need to protect.
We compare leading UK insurers
We aren't tied to any one provider, so we can compare policies across the market and recommend the right cover at the right price.
Help with medical conditions
A health condition doesn't have to mean higher premiums or a refusal. We know which insurers take a fairer view of your circumstances.
Policies written in trust
We help you put your policy in trust, so any payout can reach your loved ones quickly and may sit outside your estate for inheritance tax.
We handle the paperwork
From the application to underwriting questions, we deal with the insurer for you. We work around your schedule, evenings and weekends included.
Free consultation
Ready to protect your home family?
Get in touch today and one of our qualified advisors will be in touch to guide you through your options.
Free, no-obligation advice
No cost to speak with a qualified adviser.
No credit checks
Your credit score won't be affected.
Fast response
We aim to get back to you within 2 hours.
FCA regulated
Fully authorised and regulated by the FCA.