I have an Interest Only Mortgage. What sort of Life Insurance do I need?

You need standard, level cover Life Insurance

If you have an Interest Only Mortgage then the amount of capital you owe remains constant. To provide cover if you die or become terminally ill, you therefore need standard, level cover Life Insurance with terminal illness cover*.

*Please note that most good Mortgage Life Insurance policies include free terminal illness cover.

Please note : The information contained within the FAQ section has been written by Mortgage Protected Online

Related questions:

Should I consider normal Life Insurance to cover my mortgage?

What’s the difference between Mortgage Life Insurance and normal Life Insurance?

Do I need decreasing cover or level cover?

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