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Mortgage protection insurance

Protect your home from £5 a month.

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What is mortgage protection insurance?

Mortgage protection insurance is a type of life insurance. It pays off the rest of your mortgage if you become terminally ill or pass away within the policy term. This means your family would be able keep their home and have one less thing to worry about.

It's also called mortgage protection life insurance, decreasing term life insurance, or decreasing life cover. They're all the same thing.

Our cover is there for you in the good times, not just the bad. You’ll get discounts on popular health and fitness brands and rewards for getting active. Like a weekly coffee and payment towards Apple Watch.

Why choose mortgage protection cover with Vitality?

  • You can rely on us

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    99.7% of life cover claims paid out (Vitality Claims and Benefits Report, 2024).

  • Cover before your mortgage starts

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    To help protect you between when you commit to buying a house and when your mortgage payments start. 

  • 5 Star Defaqto rated cover

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    It’s verified as a trusted product.

  • Update your policy

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    If you need to apply for a new or increased mortgage, you can increase your policy amount and term up to three times.

Do you need mortgage protection insurance?

Buying a house is one of the biggest financial decisions you’ll make. When thinking about taking out mortgage protection consider:
  • Your family and what would happen to your home if something bad happened to you. With insurance they could pay off the rest of the mortgage and keep the house
  • Some mortgage providers will recommend you take out mortgage protection insurance
  • Should you become ill and not be able to work, would you struggle to pay off your mortgage repayments?

How does mortgage protection insurance work?

Once you’ve bought a policy:
  • You’ll pay fixed premiums for a fixed period of time
  • As you pay off your mortgage, the amount of insurance cover you need decreases in line with it
  • If you become terminally ill or die during the policy term, your family will receive a lump sum. They can use this money to pay off your mortgage.

Get active. Get Apple Watch Series 9.

Get Apple Watch© Series 9 when you buy a qualifying mortgage protection plan with Vitality.

For single plans, a minimum monthly premium of £45 applies to qualify for Apple Watch. For joint plans, a £60 minimum monthly premium applies.

A credit agreement and further terms and conditions apply.

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How our mortgage protection claims process works

1. Make a claim

To make a claim, you can call us on 0345 272 8802 or email [email protected].

2. We'll assess the claim

Our team will be in touch throughout the process to keep you or your family updated.

3. Payment

Once the claim is approved, the lump sum will be paid into the nominated bank account.
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Need advice?

Call us on 0330 678 3324. Our team are on hand to answer your queries. 

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Mortgage protection insurance FAQs

Is a mortgage protection plan the same as PPI?

No, mortgage protection isn't the same as payment protection insurance (PPI). Mortgage protection covers mortgage repayments only and is paid out to you. PPI can cover a variety of loans and pays out to the loan lender.

Is mortgage protection the same as life insurance?

Mortgage protection insurance is a type of life insurance.
 
The key difference between the two comes down to the reasons you are taking out the cover.

For example, some may want to protect their family's finances if they die, and that's their priority. Others may want to make sure their family can keep their home if something bad were to happen. 

If you need advice on what type of cover you need, call us on 0330 678 3324 to speak to one of our financial advisers. 

What does mortgage protection insurance cost?

The cost of your mortgage protection plan will depend on things like:
  • Your height
  • Your weight
  • Any pre-existing health conditions you may have
  • If you smoke
  • If you're employed in a high-risk occupation e.g firefighter
  • How much cover you need to take out to cover your mortgage.
Find out more about how mortgage protection premiums are calculated here

What happens to my mortgage if I die?

If you die and your mortgage loan hasn't ended, the debt still needs settling. 

If you have insurance, this will pay out and pay off the outstanding amount. 

If you have whole of life insurance or term life insurance, your family will receive a tax-free lump sum. They can then use this money to pay off your mortgage should they want to keep the house.

Who is responsible for mortgage payments after death?

Existing debts, like your mortgage don’t disappear. When someone dies, the debt still needs to be paid off.

The executor of the estate usually pays this. Any savings are then passed on to the family or other named beneficiaries named in the will.

Do you need life insurance for a mortgage?

No, legally you do not have to take out life insurance to get a mortgage. Some mortgage providers will recommend you take out insurance when taking out your mortgage.

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