Halifax Joint Mortgage Protection
Halifax do not just offer great banking, they also provide a range of life insurance plans including joint mortgage protection.
Use the form on the right to find your best joint mortgage protection quote.
Joint Mortgage Protection is taken for the borrower as well as a beneficiary in case the borrower dies before being able to pay the full and final payment of the mortgage loan. Halifax insurance provides total mortgage policies which not only protect the family from the burden of the debt but the beneficiary as well. This basically includes both the spouses and the money is paid back if one of them dies.
The amount of premium to be paid in equal installments and the term of the policy equally depends upon the amount of mortgage loan taken.
About Halifax Joint Mortgage Protection
Halifax is a financial and insurance firm which was founded in 1853. It provides residential mortgages and savings accounts to the residents of UK. It has it headquarters In Halifax, West Yorkshire, England. It is a trading name of Bank of Scotland and has branches in England, Northern Wales and Ireland.
Types of Joint Mortgage Protection
The total Mortgage plan protects mortgage with one or more of the covers like Life Cover, Critical Illness Cover, Disability Cover and Unemployment cover.
Different Type of Joint Mortgage Protection:
Level Term Mortgage Cover: Through this policy the amount of coverage remains constant till the policy matures.
Decreasing Term or Decreasing Cover Plan: In this the amount of the coverage goes on reducing as the outstanding loan amount decreases with time. This ensures full and final payment and relief from the mortgage loan in case the borrower dies. The amount left over is given to the beneficiary as written on the policy.
These polices also come with dismemberment and accidental death condition in which the insurance company pays back the amount of the loan and gives twice the sum insured if there policy holders has an accidental death.
Mortgage Critical Illness Cover: You can also add illness a condition to pay off your debt. This also includes policy which pays for diseases like cancer and heart attack. It further helps you get protection for the mortgage and beneficiary in case of a premature death.
Halifax sees its competitors in Morrison’s Mortgage Insurance Cover which is one of the new comers in its hit list.
Review of Halifax Joint Mortgage Protection
Halifax joint mortgage protection has 19 reviews on the reviewcenter.com and the readers have the rating of 1.5 out of 5. You can log onto link and write about your experience with this product. You can also read reviews by other users on variety of insurance products offered by Halifax on link two .
How can we save you up to 40%
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