Life Assurance from whole of the market brokers
Life Assurance - Decreasing Term
The most common form of decreasing term assurance is a mortgage protection policy used in conjunction with a capital repayment mortgage. The sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term. Should the policy holder die within this term, subject to premiums paid being upto date. Then the insurer would pay off the mortgage in full. This means the surviving spouse and dependants know that the house is financialy secure as no mortgage exists on it.
Advantages of Life Assurance:
- The cheapest form of life cover
- Can be arranged on a block basis ( premiums added to monthly mortgage payments)
- Minimal health declaration need for those under 50-55.
Life Assurance - Level Term
With this type of policiy the sum assured remains constant throughout the term. Its usually more expensive then decreasing term assurance policy, but some lenders find the potential of having a cash surplus after the mortgage has been repaid, beneficial for the surviving borrower.
At North Mortgages our Insurance Experts will take care of everything on your behalf. Remember, we source insurance from the whole of the market, so you know your getting the best deals available and all tailored to suit your personal circumstances.
Call NOW on: 08000 949 595 or contact our whole of the market mortgage brokers in Manchester today to arrange a Call Back.
See also: http://www.abi.org.uk/
