Your home is one of your most valuable assets. Insurance ensures that in the event of an absence from work due to sickness, a critical illness or even death, your finances can still be managed. Giving you and your family peace of mind, protecting your credit rating, help maintaining your bills such as mortgage payments and helping to ease the financial pressures.
Life insurance can cover your outstanding mortgage if you pass away.
Critical illness insurance will pay out if you are diagnosed with a serious illness like cancer and meet the policy definition.
Critical illness will provide financial support in the event you are going to survive, whereas life insurance will only pay out if you have passed away or you are going to pass away usually within 12 months of the illness.
Income protection provides a regular income if illness or accident prevents you from working, ensuring mortgage payments and living costs can be maintained. Income protection pays an income if you do not get paid from your employer. If you get paid from your employer for example for 3 months, income protection would pay out once your employer has stopped paying you after 3 months.
Protection is designed to reduce financial stress during unexpected circumstances.
Understanding which type of protection is appropriate for your situation is key. You can get a personalised no obligation quote quickly and easily via Muuvin’s mortgage protection quote service: Get a Quote
At Muuvin, no-obligation calls are also available to discuss your needs and help you understand your options.
Do I need mortgage protection insurance?
It’s not legally required, but it can provide financial security for you and your family.
Can income protection cover self-employed individuals?
Yes. Policies exist for self-employed people, though terms vary by provider.
Disclaimer
Your home may be repossessed if you do not keep up repayments on your mortgage.
This article is for general information only and should not be taken as advice. Mortgage applications are subject to status and lender criteria.
