Our Mortgage Plus Plan
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Our Mortgage Protection Insurance; Mortgage Plus Plan, gives you two types of cover to safeguard your mortgage:
Mortgage Life Cover
Our Mortgage Life Cover is designed to help you and your family pay off your mortgage if you die, or you’re diagnosed with a terminal illness while you’re covered. It gives you the confidence of knowing that if something happens to you, your mortgage can be taken care of.
- Flexibility to increase your cover if your mortgage increases - With our Guaranteed Insurability Options we guarantee that you can increase your cover and extend how long your cover lasts if you take out a new or bigger mortgage. You won’t need to give us more information about your health. It means that if you move home, your plan can move with you. If you increase your cover, your premiums will, of course, increase too. Guaranteed Insurability Options will apply if you’re accepted on standard terms and with no exclusions on your plan.
- We’ll give you Mortgage Free cover before you start paying your premiums - We’ll automatically include Mortgage Free Cover on your plan. This gives you temporary cover for up to 3 months. So if anything bad happens to you between the time you legally commit to buying a home and when you make your first mortgage payment, you’re covered for up to £300,000.
Mortgage Incapacity Cover
Life cover alone isn’t enough to protect your mortgage. A severe illness could put a significant strain on your finances too. You’d be unable to work, and might find yourself earning nothing at all. If that happened, you’d find it harder to pay your mortgage. That’s why we’ve automatically included Mortgage Incapacity Cover in the Mortgage Plus Plan.
- Helps pay your monthly mortgage payments if you’re severely ill and unable to work- so instead of worrying about the payments on your home, you can concentrate on getting better. If you’re diagnosed with one of the illnesses or conditions we cover and unable to do your job, we will give you monthly payments for up to 24 months. This gives you the best chance of recovering from your illness, free from the worry of paying your mortgage. We’ll pay out as soon as you meet one of our definitions and are unable to work.
- We give you monthly payments for a wide range of illnesses, conditions and injuries - Mortgage Incapacity Cover includes 29 conditions such as Cancer (excluding less advanced cases), Heart Attack, Stroke, Multiple Sclerosis and Traumatic Accident (requires hospitalisation for 10 days).
- Claim again if you get ill again - While you’re paying for your mortgage, you might get ill more than once. Because of this, you might need to claim for Mortgage Incapacity Cover several times.
- Get a maximum of 24 monthly payments across the life of your plan - It doesn’t limit the number of times you can claim. If a severe illness or injury means you’re off work for two years, you might receive all 24 payments under one claim. But if you recover earlier, you could claim again until you’ve used up all 24 monthly payments. If that happens, the Mortgage Incapacity Cover part of your Mortgage Plus Plan will end, and we’ll stop charging you for it.
| |
Mortgage Life Cover |
Mortgage Incapacity Cover |
Serious Illness Cover for Mortgages |
| Maximum payment period |
Lump sum if die while covered |
Up to 24 monthly payments if you are diagnosed with a condition we cover and are unable to do your own job |
Lump sum if diagnosed with a condition we cover |
| Min entry age next birthday |
17 |
17 |
17 |
| Max entry age next birthday |
65 |
65 |
65 |
| Maximum expiry age |
70 |
70 |
70 |
| Min term |
5 years |
Max term |
50 years |
| Max term |
50 years |
50 years |
40 years |
| Min cover |
£50,000 |
£250 per month |
£10,000 |
| Max cover |
£20,000,000 |
Lower of:
- £2,000
- Equivalent monthly mortgage instalment
|
£3,000,000 |
How to apply or find out more?
