• Mortgage Payment Protection does exactly as the name suggests. It is linked to a mortgage and would clear the outstanding balance of it, should any of the lives assured contract a terminal illness or die during the term of the policy.
    This type of policy can be seen almost as a luxury but it does mean a better life for your dependents once you are gone, so can be seen as the best parting gift of all.

Mortgage Payment Protection (MPP)

Mortgage protection policies should always be set-up to coincide with a person’s mortgage and what is left to be paid on it. Should something happen to the policyholder(s), the mortgage could then be cleared. If these policies are not linked to the mortgage correctly, they may only clear part of the balance, so only part of the worries are gone.

If set-up correctly, as MAP can do for you, they ensure the biggest expense a person will most likely face in their life will be cleared on their death. Loved ones are not then stuck with a property they cannot afford to keep and may be unable to sell.

Such is their importance, some lenders now no longer finalise a mortgage unless a policy of this type is in place; and mortgage lenders do not even offer such plans!

Critical Illness cover can be added into these policies, and some insurance companies now offer plans which include level term assurance or income protection insurance combined with mortgage protection policies; obviously though for an additional cost.

MAP would search the whole of the market to find the best policy to match your needs, and at the lowest cost available. Furthermore, once a policy is in place, we would review it regularly thereafter to ensure you still have the best policy available to suit your needs.

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