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Mortgage Life Insurance Quote

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Frequently Asked Questions

  • Does Drewberry charge for their service?

    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.

  • Can I take out a policy online?

    Yes, you can take out a policy online through Drewberry. Simply select the ‘Apply Online’ option once you’ve completed a quote form.

  • What providers does Drewberry compare?

  • Do I need Mortgage Life Insurance to get a mortgage?

    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.

  • What’s the difference between level and decreasing cover?

    There are two types of Mortgage Life Insurance: level term and decreasing term.

    • Level term policies
      Have a fixed benefit amount throughout the policy. They usually cover interest-only mortgages.
    • Decreasing term policies
      Cover reduces over time as you pay off your mortgage, eventually reaching zero to coincide with the end of your mortgage.
  • What’s the difference between Mortgage Life Insurance and Life Insurance?

    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.

  • Do I need Critical Illness Cover?

    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.

  • What are guaranteed and reviewable Mortgage Life Insurance premiums?

    When it comes to Mortgage Life Insurance, there are two types of premiums available.

    • Guaranteed premiums
      Guaranteed premiumsn tend to be more expensive, however they remain the same throughout the length of the policy.
    • Reviewable premiums
      These type of premiums are reviewed regularly by the insurer, which could see the cost of your cover rise over time.
  • What affects the monthly premiums of Mortgage Life Insurance?

    Your Mortgage Life Insurance premium depends on factors about your health and your mortgage, such as:

    • Age
    • Health and lifestyle (e.g. whether you smoke)
    • Medical history
    • Occupation (e.g. whether it’s a high-risk job)
    • Mortgage interest rate
    • Mortgage term
    • Amount of mortgage owed
    • Level or decreasing term
    • Deferral period
    • Guaranteed or reviewable premiums
  • Can I have more than one Mortgage Life Insurance policy?

    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.

Contact Us

Head Office & Pensions and Investments
Senator House
85 Queen Victoria Street
London
EC4V 4AB
Personal Insurance & Accounts Payable
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Drewberry London Office MapDrewberry Brighton Office Map

If you are unhappy with our service, we have a complaints procedure, details of which are available upon request. If you are unhappy with how your complaint has been dealt with, you may be able to refer your complaint to the Financial Ombudsman Service (FOS). The FOS website is www.financial-ombudsman.org.uk.

Drewberry Ltd is registered in England and Wales. Companies House No. 06675912

Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

Drewberry Ltd (Financial Conduct Authority No. 505473) is an Appointed Representative of Quilter Wealth Limited and Quilter Mortgage Planning

Limited, which are authorised and regulated by the Financial Conduct Authority.

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