Mortgage Protection Insurance

Mortgage Protection Insurance

Usually, mortgage protection insurance is quite inexpensive. In fact, you can pay as little as £2.15 a month for it. The actual cost of your payment will depend on how old you are, how big your mortgage is, and what type of cover you need.

For example, if you're 25 and your monthly mortgage payment is £400 a month, it will cost you £8.60 a month for full coverage. At 50 with the same mortgage payments, your payment would be £19.40, so you can see that rates would rise with age.