Mortgage Insurance

Good mortgage insurance will pay your monthly mortgage payments directly to the bank if you are unable to work due to health reasons after 4 weeks off work. After the 4^th week they will pay the monthly payments to the bank until you are able to return to work, till you are 65 or until your mortgage is cleared, whichever comes first.

They do not offset sickness benefit or family support so you are still able to live a normal life putting food on the table and paying the bills. In the event of death they will clear the mortgage to the amount of life cover you have chosen.

 

Some mortgage insurances only pay for 2 years per condition; this means if you have cancer they will pay for two years, if you are still sick and off work they will not continue to pay unless you get a different illness…….

 

Some also offset sickness cover and other benefit payment which means you do not get all your monthly mortgage payment covered.

 

It is important to know what you are covered for and that you will get what you are paying for if the time comes that you need to claim. Mortgage Extra will do this for you.

Please click here to view copies of the Mortgage Extra brochure, policy wordings and related documents.