It is not connected to the mortgage itself, or the repayments you make on it. At the end of the term, the proceeds from the investment vehicle are intended to repay the mortgage. Learn about term assurance learn about term assurance. Your mortgage is the biggest financial commitment that your family will ever have. Legal & general's mortgage term assurance mortgage life insurance includes terminal illness cover at no extra cost. Mortgage term assurance and mortgage decreasing term assurance plans automatically include.

Term assurance does not accrue a surrender value. Decreasing term assurance may be suitable if you wish to protect your outstanding repayment mortgage. A 45 year old female non- smoker buying a £200, 000 level term policy lasting 20 years would pay £34. 7.

Mortgage loanguard a payment protection policy that covers your monthly mortgage payments in the event of accident, sickness or unemployment. A second example shows the monthly premium for a single male non- smoker, aged 45 at next birthday, for level term cover of £100, 000 over 25 years. When taking out a new mortgage people typically effect enough term assurance to ensure their mortgage is repaid on death. Options which can be included in the term assurance plan for an extra premium include. Term assurance comes in various forms, including level and decreasing. The content of this website is for guidance purposes only and is provided by your mortgage unless otherwise stated. This plan is only available with a new mortgage, re- mortgage or further advance on an existing mortgage.