Life Insurance

Life Insurance

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Protecting your mortgage against the potential financial consequences of either you or your partner's death or serious illness is generally considered to be of vital importance. There are many different types of mortgage insurance that can be used for this purpose but term assurance is the most cost effective.

At MAPS we offer access to some of the most competitive insurance premiums available today. Our independent status allows us to compare all suitable providers to ensure you are getting not only the most suitable policy for your particular circumstances but also the cheapest.

Level Term Assurance

This can be used to protect you, your family or your mortgage. Usually used in conjunction with an interest only mortgage this policy will provide a fixed amount of insurance for the entirety of the term you have chosen. The amount of life cover you have chosen will be paid out if you die before the term ends.

Decreasing Term Asssurance

Decreasing Term Assurance , sometime called Mortgage Protection is more typically used to protect a repayment mortgage and is usually the cheaper of the two options. The plan is designed to provide a guaranteed sum of money if you die during the period chosen for the cover. The amount decreases over the term of the policy roughly in line with your mortgage.

It should be noted that term assurance policies have no surrender value at any time, and will only pay out in the event of death. This means that the cost of this type of cover is lower than whole of life policies given the amount of life cover provided.


Many policies include a number of incremental options that can be added to extend the circumstances covered.

Terminal Illness Cover

Is included free in many policies and means that should you be diagnosed with a terminal illness during the plan (see individual policy key features for definitions or contact us direct), and are given less than 12 months to live, they will pay you a lump to help you sort out your finances. This cover does not apply during the last 18 months of the period of cover.

Guaranteed Insurability

Lets you increase your level of cover in certain circumstances without the need for further medical evidence. You may need to pay an increased premium if you exercise this option. This option is included automatically in your plan.

Waiver of Premium

This optional extra allows for the premiums of your policy to be maintained during any long term sickness or accident after a set deferred period.