Mortgage level life insurance policies have one clear objective – to help pay off an outstanding mortgage in the event of death, during the policy term. This means that your loved ones could continue to live in the family home even when you’re no longer around, without worrying how they'll pay the mortgage.
Mortgage life insurance is designed to help pay off an interest only mortgage if you die, or if you're diagnosed with a terminal illness, during the term of your policy.
The amount of cover will remain the same throughout the policy term.
This policy is designed to help protect a repayment mortgage, so the amount of cover reduces roughly in line with your remaining mortgage debt.
You can also add Critical Illness Cover to Legal & General's mortgage level life insurance or mortgage decreasing life insurance policies which is provided by Legal & General, at an additional cost. It provides extra peace of mind as it will pay out your cash lump sum if you’re diagnosed with one of the 39 specified illnesses that are covered.
Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).
