Mortgage Life Insurance
Coverage for your mortgage payments if the worst happens
If you have a repayment mortgage, you can arrange life cover that aims to help pay off the outstanding debt if you die during the term of the plan. This is also known as decreasing term assurance. The policy has no cash-in value at any time.
You can take out a plan for the same amount of time as your mortgage loan (e.g. 25 years). The cover level gradually decreases throughout the term. That’s because, with a repayment mortgage, your payments go partly towards paying the interest on the loan and partly towards reducing the original loan. That means you’ll never pay for more cover than you actually need.
To find out more, telephone Dunfermline Direct on 08457 33 66 88 or contact any branch - click here to find your nearest branch.