Mortgage Protection
What would happen if you were to die before your mortgage was paid off? With Mortgage Protection your dependents would have nothing to worry about as this form of cover is designed to pay off the balance of your mortgage. Depending on your lifestyle and the mortgage you have, Mortgage Protection comes in a variety of forms and can also be adapted to provide you with an element of Life Insurance.
What is Mortgage Protection?
Purpose
The purpose is to pay off your mortgage in the event of your death during the policy term.
Life Insurance
This is the cheapest type of Life Insurance available on the market.
Decreasing Cover
This means that the sum assured reduces in line with your assumed mortgage balance.
Static
The cost of Mortgage Protection will remain unchanged during the term of the policy.
Assigned
This policy is assigned to the lender with whom you have your mortgage.
What is Mortgage Protection?
Purpose
The purpose is to pay off your mortgage in the event of your death during the policy term.
Life Insurance
This is the cheapest type of Life Insurance available on the market.
Decreasing Cover
This means that sum insured reduces in line with your outstanding mortgage.
Static
The cost of Mortgage Protection will remain unchanged during the term of the policy.
Assigned
This policy is assigned to the lender with whom you have your mortgage.
Mortgage Protection Options
Single Cover
In the event of your death during the term of the policy, the cover at that time is paid out to the lender and cover will end.
Joint Cover
If you or your partner dies during the term of the policy, the cover at that time is paid out to the lender and cover will end.
Dual Cover
In the event of the first death the cover at the time is paid out to the lender and cover will continue on the person remaining which will pay out in the event of their death if same occurs during the term.
Mortgage Protection Options
Cohabiting Couples
There are potential tax liabilities for cohabiting couples who are purchasing property together. As a cohabiting couple, you are considered strangers for inheritance tax purposes. In the event of a death, a tax liability will be due to Revenue. There are options which can provide financial support if this happens.
I’m so delighted I used Jigsaw for my first purchase!
Incredible service. Lorraine and Gosia were so efficient and clear about everything. They call if there is anything urgent and also give a personal touch by calling or emailing to congratulate you – which is so appreciated in such a huge lengthy process. I’m so delighted I used Jigsaw for my first purchase as there is a lot to learn.
– Clare Dunne
Say Hello to get Started
We will review your current financial position, listen to what you want to achieve and provide
you with expert, impartial advice tailored to your individual needs and circumstances.
Other Protection Products
Income Protection
An Income Protection policy is designed to provide you with a monthly income if you’re unable to work due to sickness or injury, ensuring you can meet your financial obligations during your recovery.
Life Cover & Specified Illness Cover
Specified Illness Cover pays a tax-free lump sum if you are diagnosed with a serious illness, helping you manage financial commitments during recovery.
Other Protection Products
