How much should I insure for?

The amount of outstanding capital on your mortgage.

If your insurance is designed to protect your mortgage, the initial level of life cover must always equal the capital sum outstanding on your mortgage. You should also insure for the same number of years as are remaining on your mortgage.

You should be aware that if you need insurance that would pay your monthly mortgage payments if you were off work through sickness, accident or unemployment, then you need Mortgage Payment Protection Insurance.

If you need insurance that would repay your outstanding mortgage capital if you became critically ill, you need Critical Illness Insurance.

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

Related questions:

What is Critical Illness Insurance?

What is Mortgage Payment Protection Insurance?

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