Answered by Tom Conner
It is absolutely fine to take out two life insurance policies for mortgage and family protection.
For example, you may have two mortgages on different properties and wish to have separate mortgage life cover for both loans. Alternatively, you may have re-mortgaged and wish to top-up your life insurance.
It is very important to note this is not the case for mortgage payment protection, where it is usually only possible to take out cover for your primary residence. Additionally, cover cannot usually exceed the lower of 125% of your monthly loan repayment or 65% of your gross income, depending on the insurer.
Frequently Asked Mortgage Protection Insurance Questions
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First class service. Helped me through the process from start to finish. Egle and Francis were very professional and talked me though all my options. Once the policies were set up, the after care after was also first class. Highly recommend. 5 stars all day long.
Victoria was very helpful about selection of suitable insurance. She always answered all questions in a timely manner.