Co-operative Joint Mortgage Protection
Co-operative Insurance, formerly known as CIS, offer a range of insurance plans. Their protection plans are considered some of the best on the market.
Find your best joint mortgage protection quote please complete the form on the right.
Have you ever though what your sickness or accident would mean to the entire family? Being the sole bread winner, you have to take up a joint mortgage protection if you have a loan over you. Co-operative mortgage protection offers 12 months of protection, in which your monthly payments as well as premiums are paid by the company. This works when you are sick, had accidents, or are unemployed. In case the policy holder dies, the company will pay the debt, so that the beneficiary does not have to take the burden of the loan.
About Co-Operative Joint Mortgage Protection
Founded in the year 1872, it has its headquarters in Manchester, United Kingdom. A commercial bank which offers retail banking, commercial banking and Independent financial advice, it has over 87,000 employees working for them and 20 corporate banking centers.
Types of Mortgage Insurance
The Mortgage Protection can be covered by:
Mortgage for life/ critical illness: This policy covers mortgage when the policy holder dies or is critically ill. The joint mortgage basically protects the beneficiary in extreme cases so that the burden of debt is not paid by the spouse or anyone in the family.
Repayment Mortgage: the decreasing loan amount as the year passes by is covered by the insurance firm. The premium also reduces with the same percentage, and in the vent of death or critical illness, the insurance firm pays out the amount which is left. This way the repayment is complete and you can get your mortgage back.
Interest Only- mortgage: Level term insurance should be taken if you have an interest only mortgage which gives you a lump sum at death of the policy holder, to repay the debt and secure the family without giving burdening any one. The premium in this varies on the amount of loan you have taken.
MPPI: In this, the insurance firm pays the loan repayment as well as the premium of the policy for a year or maximum two years if the policy holder is currently unemployed, has suffered accident or is terminally ill.
Co-operative mortgage protection insurance competes with Tesco and Nationwide mortgage insurance.
Review of Co-Operative Joint Mortgage Protection
on the link there are two reviews of the co-operative insurance society mortgage protection insurance. Marked with two and a half star the customers were fairly satisfied with the insurance product and their services. If you want to read posts about other insurance products and write your review about the co-operative society, you can click on review.
How can we save you up to 40%
If you don't find the best joint mortgage protection deal now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only specialise in joint mortgage protection. Easily search over 400 policies and find your best quote. Complete our short form to get started.