Mortgage Protection Assurance
- Mortgage Protection Assurance is a lump sum benefit in the event of death, serious illness or both.
- Cover decreases each year in line with the mortgage.
- Optional benefits usually do not apply.
- Cover is in line with the term of the mortgage.
- Costs should be kept in line with the mortgage as payment of the mortgage is paramount. Paying extra would be advised to ensure mortgage is covered.
- Costs vary by age, smoking status and policy term.
- Premiums and cover are guaranteed.
- No tax relief on premiums and no tax on benefit.