David Allan

Experly compared by David Allan

Products Updated June 5, 2018

Income Protection That Covers Your Mortgage

If you find yourself in the unfortunate position of being unable to work due to sickness, ill health or injury, how would you continue to pay your mortgage and keep a roof over your head? Our experts can ensure you have a policy in place to protect your mortgage payments now and in the future.

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All credit types
Rated 4.8/ 5

Lifes Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Lifes Great

Products
Income & Life Protection

speciality
Income Protection

Lifes Great is an online financial advisor that can quickly find you the best income protection quote from a wide range of provides in the market place. Simply get a quote for a personal illustration.

Available via broker only
All credit types
Rated 4.7/ 5

Aviva

Provider
Aviva Income Protection

Products
Income & Life Protection

speciality
Income Protection

When unexpected things happens, we know that what matters is having peace of mind from a policy you can trust. Aviva's Income Protection cover is very straightforward, simple to arrange and is individual to you and your families needs.

About Income Protection That Covers Your Mortgage

If you find yourself in the unfortunate position of being unable to work due to sickness, ill health or injury, how would you continue to pay your mortgage and keep a roof over your head?
If you have sick pay to fall back on then that will help, but what if your sick pay runs out while you are recovering?

Cover your mortgage payments if you're unable to work

Cover your mortgage payments if you’re unable to work

Income Protection for mortgage would help to cover your mortgage by paying out a benefit amount that is tax free regularly. The policy is created and put in place to protect both you and your salary by covering and protecting a percentage of your income should you be unable to work.

This type of cover can be put in place to begin once your sick pay or any other insurance policy comes to an end. The benefit amount will be released once the agreed waiting period (deferred period) has come to an end- You should consider taking out cover to ensure that you are fully protected.

How Does It Work?

If you are unable to work for reasons such as sickness, ill health or injury important bills such as your mortgage will still be covered. While you are unable to work, a claim can be made and the benefit amount will then be released once the agreed waiting period known as the deferred period has come to an end. You will then be given a tax free payout on a regular basis up to the point where you return to work, you reach your retirement age or the policy holder passes away. Unlike most insurance policies, a claim can be made as many times as you wish providing the claim is valid.

The Features

There are many important features that come with Income Protection for mortgage, and these include;

  • Peace of mind knowing that your mortgage payments are covered and your income is protected
  • The policy will provide you with financial cover as well as support while you are unable to work
  • The benefit amount that is released will be paid tax free and payments are made regularly
  • There are a range of other policies available so you have the maximum coverage to suit your needs- Guaranteed policies, Age related policies and re-viewable policies

What Are The Benefits?

There is a huge range of benefits available with this type of policy, and these include:

  • A claim can be submitted as many times as you wish providing the claim is valid
  • The policy will provide you with a regular tax free payout if you are unable to work as a result of sickness, ill health or injury
  • Providing the premiums are paid, this policy will remain in place for as long as you require,giving you total confidence
  • There are numerous policies available to ensure you have the right policy to suit your needs

 

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