If your children, partner or relatives depend on your income to cover any financial commitments or expenses, you should be considering life insurance. Having personal protection in place will secure your family’s financial future should any unexpected or tragic circumstances occur. A life insurance policy could pay off your mortgage if you die during the term of the policy. There are two types of policies to consider:
A “Level term life insurance” which would pay out an amount chosen by you, if you die during the term of the policy.
Alternatively a “Decreasing term life insurance” which costs less than a level term policy because the pay-out reduces over time. You could set up this type of policy to reduce its pay-out at the same rate as your mortgage balance each month.
Registered in England and Wales
Monopoly Mortgages Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Limited. Advance Mortgage Funding Limited is authorised and regulated by the Financial Conduct Authority.
The guidance contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK
Registered office address – Alpha House, 100 Borough High Street, London, England, SE1 1LB
Registration number – 11987893
There may be occasions when we need to charge a fee, however, this will be dependant upon your circumstances and we would let you know how much this is likely to be when we make our initial disclosures to you at the outset. The fee can range from £99-£499.
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