Mortgage Protection

Specifically designed to pay off the outstanding balance of a mortgage in the event of the policyholder’s death.
Mandatory for Mortgages: Often a requirement by mortgage lenders to ensure the loan is repaid if the borrower dies.
This insurance usually lasts for the same period as the mortgage. Coverage decreases over time in line with the mortgage balance (also known as decreasing term insurance). Alternatively, a level term policy means that the benefit amount remains constant over the term of the policy.