We don’t charge a fee for our service. When it comes to protecting things as important as your health and finances, it shouldn’t cost the earth.
Instead, we work closely with our providers and, when we set up a policy with one of their products, they provide us with a finder’s fee.
As a result, we can offer our 5-star service with no fee attached and you can focus on protecting what’s important to you.
Yes, you can take out a policy online through Drewberry. Simply select the ‘Apply Online’ option once you’ve completed a quote form.
We’re completely independent and impartial, which means we can compare quotes from a host of different providers. It also means we can negotiate better premiums than going to insurers directly.
We compare between leading Mortgage Life Insurance providers:
No, Mortgage Life Insurance isn’t compulsory to be approved for a mortgage.
Many people take out Mortgage Life Insurance because it will offer protection to themselves, their family, and their home if the worst should happen.
There are two types of Mortgage Life Insurance: level term and decreasing term.
Mortgage Life Insurance and Life Insurance are similar in that they pay out a lump sum if you should pass away or you’re diagnosed with less than 12 months to live.
The difference is that Mortgage Life Insurance is only there to cover your mortgage. Most people take it out when they get a mortgage, and the policy ends when their mortgage ends.
Life Insurance can cover anything, including a mortgage, but also other financial commitments like debt, children’s tuition fees and everyday expenses. The cover can last for a fixed term or’ whole of life’.
Mortgage Life Insurance tends to be cheaper than Life Insurance because the risk is usually decreasing – the more of your mortgage you pay off, the less the cover needs to be.
Most Mortgage Life Insurance policies give you the option to add Critical Illness Cover. This option means your policy will pay out if you suffer any critical illness covered.
The number of illnesses covered can vary between insurers. Some insurers also pay out a partial amount if you suffer a less severe form of a covered condition.
Critical Illness Cover premiums are higher because the risk of suffering a serious illness (e.g. cancer, heart attack or stroke) is higher than passing away.
When it comes to Mortgage Life Insurance, there are two types of premiums available.
Your Mortgage Life Insurance premium depends on factors about your health and your mortgage, such as:
Yes, you can have more than one Mortgage Life Insurance policy if you have multiple mortgages that you want to protect.
Please note: you can’t have multiple Mortgage Payment Protection Insurance policies.