Mortgage Protection Cover or Decreasing Term Life Insurance is essential for anyone buying their home. It is designed to pay the outstanding balance of your mortgage should you die within the specified term. Your family and loved ones would therefore be relieved of the financial burden of the mortgage, as the remaining sum will be paid directly to your mortgage provider.
In most cases, your mortgage lender will require you, and any other mortgage holders, to have a policy in place before your mortgage can commence. Your mortgage protection will run for the same length of time as your mortgage.
Here at GMC Mortgages, we have a range of financial protection solutions to suit everyone, offering the necessary information to help you make the right decision on your mortgage protection plan. If you’ve got questions about our insurance and protection products, please contact one of our team today.
contact one of our team today.