Mortgage Life Insurance

Protection for you and your family should the worst happen

£*

Mortgage Enquiries

£*

Mortgages Accepted

Don’t leave your loved ones struggling to keep their home

Mortgage life insurance is somewhat self-explanatory in that it is an insurance to help cover your mortgage should you pass away.

Without mortgage life insurance, you could be putting your loved ones at financial risk. That’s why tackling the issue of the inevitable is something you should do sooner, rather than later.

Why choose MortgageKey for Mortgage Life Insurance

We offer experienced and trusted advice

Our vastly experienced team can save you from searching through hundreds of life insurance policies and ensure nothing is overlooked

Our friendly and personable approach

We know that a personal touch is essential when making finance decisions so take the time to understand your needs

Support is tailored to meet your needs

We know there’s not a solution that fits all circumstances, so our advisors tailor their services to best meet your specific needs

We make everything clear to understand

Legal-jargon free advice to ensure you feel comfortable and understand what everything means

Award-winning mortgage and loans experts – ready to help you today

Our team of specialists will guide you through the process of securing a mortgage, buying a home or taking out a loan – finding the very best deals for you and your family.

Mortgage & Loan Guides

Read our experts’ latest advice on a wide range of mortgage options to the tax implications of buying properties to let.

Find out more

Infographics

Making mortgages and loans simpler to understand is our key skill, and our infographics do just that!

Find out more

Hear from our Clients

Don’t just take our word for it, hear from our happy clients who we have helped through the mortgages and loans process.

Find out more

Mortgage Life Insurance – Your Questions Answered

If you have a mortgage it is important to consider anyone whose financial circumstances and well-being will affected by your death because they are financially reliant on you. It is therefore important to plan accordingly and ensure you have considered you dependents.

If you die unexpectedly, those who you leave behind will suffer enough from such a loss, and you can take steps now to make sure they do not suffer from financial stresses too.

What kinds of Mortgage Life Insurance are available?

A Decreasing Term policy sees the payout sum reduce alongside the length and total mortgage debt. So, for instance, if you passed away in year one of a £200,000 mortgage, you’d inherit £200,000. Whereas, if you died halfway through your mortgage term, you’d only get £100,000. Therefore, this sort of policy usually has lower monthly premiums and obviously suits those with repayment mortgages.

Level term mortgage life insurance means that the payout sum stays fixed or ‘level’ throughout your mortgage term regardless of when you die. So, even if you die within the first or last year of your term, if your policy is £200,000, that’s what your dependants will receive. An obvious benefit to this is that they may receive more funds than the remainder of the mortgage, leaving additional funds to cover bills, living costs or to offset what your salary brought into the household. However, the result of this is higher monthly premiums.

Whole of Life Insurance is a policy which ensures a tax-free lump sum is paid out in the event of your death. The premiums are usually higher because a payout is inevitable. You don’t just pay monthly premiums for a term, you pay until your eventual death, meaning that you could be paying into your 80s or 90s. However, it whole of life insurance guarantees a fixed amount of cover because of the fixed premiums.

Which type of Life Insurance policy should you choose?

Whether your home is a one bedroomed flat or a 10-bedroomed mansion, your home is your castle. That’s why it’s important to get the right cover in place should something go wrong. Our dedicated team of mortgage brokers have the expertise and knowledge to understand individual circumstances and find you the right mortgage life insurance deal.

When should you take out Mortgage Life Insurance?

You will no doubt be advised to take out some sort of life insurance, when you first acquire a mortgage. It’s suggested that the sooner you take out a policy, the cheaper it will be, in terms of monthly premium. Then again, that is dependent on factors such as age and health. Insurers consider you less likely to make a claim the younger and healthier you are. It is also dependent on your situation in terms of immediate family, as you may not feel insurance is a viable option.

What’s not covered with Mortgage Life Insurance?

Life insurance will only pay out should you die. Therefore, other injuries or illnesses are not covered. For that you will need to look at critical illness insurance. Also, if you die to alcohol or drug related incidents, you are likely not to receive payment. The same applies if you have existing health policies when you take out the policy.

What our clients are saying

  • I went from not thinking I could get a mortgage, to mortgage approved in 2 weeks, and at a rate I never thought possible! The service provided by Jami...
    customer
  • Very well organised and friendly . Told us upfront what to expect and what it was gonna cost . Very honest with what they tell you . Always keeping yo...
    Oliver Cole
  • I was dealing with Jamie Money for my remortgage enquiry great communication, Kept me informed throughout the process and managed to save me money! wi...
    Michele Clark
  • Would highly recommend they were very helpful and it was a very easy process 👍👍
    Carl Dean
  • Great good quick service thank you
    Dale Bromell
  • The service I received from Matt was first rate. Sorted out a deal in very quick time with no fuss. I would strongly recommend this company.
    Mr Brandon
  • I have recently been dealing with Jamie Melling and it has been nothing but straight forward from the start. He has been very informative, answering a...
    Lauren
  • What a fantastic company this is so helpful and willing to go the extra mile to get things done Jamie money,Meghan,Rebecca and Olivia are amazing I wo...
    Emma Gregory
  • Good service so far.
    CAROLINE HAYNES
  • This was my second property, but same comments as the first one. The chap I was dealing with, Karl, was great and very helpful. We got a good result...
    Jeffrey Peyton-Bruhl
  • We just want to thank Callum for being amazing. We honestly could not have asked for a better mortgage advisor, he put up with us calling all the time...
    Jessica Boyle
  • Callum was excellent highly professional and very approachable, I would definitely recommend the company to anyone that I know Shazad
    shazad
  • kept in touch every step of the way. always responded quick to emails and my questions. kept in the loop constantly on each step of the process. fr...
    Hayley Reay
  • Very easy to deal with, good communication and service. Got me a mortgage with a high street lender when other brokers said they couldn’t.
    Mark Tomlinson
  • Morgage key have communicated with us through out, if they have only just checked to say Hi and if there was anything they could do Whilst waiting fo...
    Heather Twigg
  • Easy to deal with. Quick and efficient. Great customer service. Mortgage to meet my needs and a competitive rate. Also sorted life insurance too. Hig...
    Diane Franklin
  • The second time we have used mortgage key now and we are really happy. It was great to deal with Karl again, he gave us solid advice and we had a laug...
    Daniel Conelly
  • Super fast great comms will use again
    customer
  • Fantastic service. Offer issued within a week.
    Charlotte D
  • Great service, good communication and on the ball! I would recommend to a friend to use MortgageKey, helpful and polite. Thank you!
    Ann-Marie Smith

Trusted by our clients

Ready to talk? Speak to an expert today: 0800 077 8980