Mortgage Protection policies can be taken out as Life only, Critical Illness only or combined Life and Critical Illness cover. They are taken out by the people responsible for paying the mortgage so that if they were to die or have a critical illness, the mortgage can be paid off. They are normally written in line with the term of the mortgage and for the amount owing on the mortgage. They can be written as level term policies, meaning that they pay out the same amount of money at the end of the term as they would at the beginning, if the policy holder were to die or have a critical illness. They can also be written as a decreasing term policy if the mortgage has been taken out on a repayment basis.
Specialist Protection is the trading name of Ann Griffiths Ltd and is an Appointed Representative of Stonebridge Group which is authorised and regulated by the Financial Conduct Authority in respect of insurance activities only.
As with all insurance policies, conditions and exclusions apply. Your home may be repossessed if you do not keep up repayments on your mortgage.