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Mortgage protection

Mortgage Protection is a life cover policy that pays off a mortgage in the event of an untimely passing.


Any assignable life policy (to note Death in Service is not acceptable) that meets or exceeds both the mortgage amount and the term of the mortgage will suffice.

Therefore, “Whole of Life” policies and “Level Term” can be used for this purpose, however the most popular policy is the “Decreasing Term” policy also known as a “Mortgage Protection Policy”. The reason for this is that it is more reasonably priced than the other forms of cover and meets the banks requirements.

The policy decreases (or amortises) at the same or slower rate of the mortgage to ensure that the cover is there in the unlikely event of it being required.

All Life Companies offer this product and given its relative inflexibility it is cheap and typically discounts exist off quoted premiums.

As we at All Financials have agencies with all the life companies we can, without bias, offer you a quote to show all the market premiums and the discounts currently available.

Should you wish to contact with regard to this, or any other product please

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All Financials protection plans:

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Were you aware you could take out a policy that would cover you for a lump sum on the event of you being diagnosed with a serious illness irrespective of the outcome??

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Do you know the difference between decreasing cover, term assurance and whole of life?

Life cover
Income protection
What would happen to you and your family if you could no longer work? Where would the required income come from?

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