LIFE INSURANCE
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MORTGAGE PROTECTION
Protecting Your Family Home
When you buy a home, you want peace of mind to go with it. But what would happen if you were to die? Would your family be able to keep making the mortgage payments? Would they have to sell your home?

You can protect your Family and your Family Home with Mortgage Protection, a low-cost way to protect one of your largest outstanding financial obligations.
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WHAT IS IT?
Pay off your Mortgage
Mortgage Protection insurance provides a lump sum payment direct to your lender if you die during the term of your mortgage contract.
Decreasing Term Insurance
Mortgage Protection benefit decreases over the term of the contract in line with the outstanding capital on a mortgage. Cover can be arranged on a single or joint life basis. Joint life cover provides a lump sum on the first death.
Cost Effective
Mortgage protection insurance is one of the cheapest forms of life insurance.
WHO NEEDS IT?
It Depends
If you are taking out a new mortgage or re-mortgaging your home, your lender can insist you get mortgage protection insurance.

The main reason for this is to make sure your family home would not have to be sold to pay off the mortgage.

You do not have to take out this insurance if you are over 50 or if your mortgage is on an investment property, however, some lenders may insist on it as a condition of getting the mortgage.
Glenbay Financial Services Ltd. is regulated by the Financial RegulatorCopyright © Glenbay Financial Services Ltd. 2011