Why choose Howden for mortgage protection insurance?
As an insurance broker, when it comes to helping our clients get mortgage insurance cover, we pride ourselves on doing the heavy lifting, so they don’t have to. Thanks to the great relationships we have with our selected panel of standard and specialist insurers, we make the process of comparing multiple insurance quotes, on your behalf, simple and easy. What’s not to like?
We also know that each policy needs to be as individual as its owner, and that’s why we provide a personalised, tailored service, focused on getting to know you and finding out exactly what you want from your mortgage insurance.
Ultimately, whether you need to make a claim, purchase a new policy, or renew an existing one, just know that we’re always here to help.
Benefits of working with Howden:
- We’re driven to save you time, money, and hassle.
- Benefit from a tailored service that comparison sites can’t provide.
- Speak to your local broker, within your community.
- We’re right by your side in the event of a claim.
What is mortgage protection insurance?
We’re right by your side in the event of a claim.
Mortgage protection insurance is a decreasing term policy that will pay your mortgage in the event of your death. It will ensure that your loved ones can retain their home mortgage-free in the event of your death. This type of policy is a requirement from most banks to draw down funds.
Mortgage protection cover is a decreasing term cover and the sum insured decreases in line with your mortgage.
For example, a sum insured of €150,000 over a 25-year term will reduce year on year in line with your mortgage repayments until it is eventually reduced to zero at which stage your mortgage should be fully repaid. It is specifically designed to offer a lump sum to repay your mortgage should you die.
This policy can be taken on a single, joint, or dual-life basis. Dual life means that the policy could potentially pay out twice if both lives covered were to die within the policy term offering a little extra protection for your family.
Serious Illness cover can also be added on which would provide you with a lump sum if you were diagnosed with a serious illness from a specified list.