Direct Line Joint Mortgage Protection
Direct Line is one of the most famous insurance brands in the UK. They are most largely known for general insurance although they also offer a range of life insurance plans including joint mortgage protection.
Joint mortgage insurance had been introduced lately to cover the property under joint mortgage between two individuals. Among the few companies offering this exclusive protection, Direct line joint mortgage protection is one of the best joint mortgage protection to choose. It protects the mortgage payments, for which the joint mortgage holders are held liable for repayment to retain the property. Direct line joint mortgage protection pays a lump sum amount or monthly payment to protect the mortgage payment when the policy holder of joint mortgage dies or due to inability to make payment.
About Direct line joint mortgage protection
Direct line insurance company has emerged in the year 1985 with the ultimate goal of offering car insurance policies, which can be obtained through phone calls. Within a very short span of not more than 25 years, Direct Line is offering contemporary insurance solutions starting from Car insurance to mortgage insurance and running successfully with more than 5 million customers.
Types of Policies:
Direct line joint mortgage protection is a kind of protective term insurance offered for a specified period, which is valid until the joint mortgage debt is cleared by the partners of liability. It can be classified into two types namely level term joint mortgage and decreasing term joint mortgage. Direct line joint mortgage protection level term cover protects the total amount left unpaid by the policy holder upon death or terminal illness. The sum assured to cover the joint mortgage cover is agreed mutually and the premium is determined accordingly. Subsequently, when the policy holder dies before expiry of the policy term, direct line pays the lump sum amount to pay off the outstanding amount held liable by the deceased insurer, where the actual outstanding amount on joint mortgage is immaterial. Direct line joint mortgage protection decreasing term cover protects the joint mortgage debt subject to the condition that the reduction in the total amount of liability held by the policy holder reduces the amount of coverage. It means that the company pays the actual amount left unpaid by the policy holder upon death.
Rival Companies of Direct line joint mortgage protection
Rivalries of Direct line joint mortgage protection include Halifax joint mortgage insurance, bright grey joint mortgage cover, co-operative joint mortgage cover, etc.
Review of Direct line joint mortgage protection
Joint mortgage protection is something introduced by direct line to help either partners of a joint mortgage debt, when if one partner dies before paying the debt fully, the other party obviously get additional financial commitment. Direct line joint mortgage protection helps the people in covering the joint mortgage debt. Reviewcenter.com has no user reviews posted on direct line joint mortgage protection. Be first to post your ratings and reviews.
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