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Mortgage Protection
Mortgage protection offers Life assurance to protect a mortgage.  The sum assured is not level but decreasing, to mirror the balance of a capital and interest repayment mortgage over the term of the mortgage.  The term of the plan is selected at outset and is normally the same as the remaining term of your mortgage.  The plan will provide a tax free cash lump sum on death during the term of the plan.

If the policyholder ceases to pay the premiums, the policy terminates and has no value.  You also have the option to include Critical illness and/or Waiver of Premium benefit for additional protection to the policyholder and family.  If Critical illness benefit is built into the Mortgage protection plan then the sum assured is paid out at the earlier of death or diagnosis of a specified critical illness.