Best place for mortgage protection

iceking

Read Martin's article but noticed it was two years old. Where is the best place to get mortgage protection life assurance and is it cheaper to try and alter your existing policy rather than take out a new one?

dunstonh

anyone that offers a "whole of market" protection service or an IFA.    You will also have some under either of these categories that offer discounted terms.

Usually discounted terms are offered when no advice is given (so no consumer protection) and dont expect service from that company after providing the policy documents.

Is it cheaper to buy new or top up? that depends on the policy you already have and what options you are building into the life assurance.

Although life assurance is generally similar in what it pays out on, there are some things you need to be aware of when buying and not getting advice:

1 - guaranteed premiums are better than reviewable premiums
2 - terminal death benefit is not always included
3 - waiver of premium - the cover varies widely between the providers
4 - critical illness - again, cover varies between the providers. Often you have a budget option (core definitions only) or a comprehensive option.