We’ll get your mortgage protection insurance quotes from the UK’s leading insurers
What is mortgage protection insurance?
Buying a home is a big step, and a big financial responsibility. You may have saved up for years to get on the housing ladder and now you have, you’ll want to protect that all-important mortgage.
Mortgage protection insurance (sometimes known as mortgage life insurance) is a type of life insurance policy designed to handle this debt when you pass away. It gives you peace of mind knowing that your loved ones won’t be left struggling with repayments or risk losing the home.
Types of mortgage protection insurance
There are two main types of mortgage protection insurance, level term and decreasing term. Both are types of term life insurance, meaning they provide cover for a set number of years, known as the policy term. If you pass away during this time, the policy pays out a lump sum. If you pass away after the term ends, no payout is made.
The key difference between level and decreasing term cover is how the payout amount works over time.
Do I need a mortgage life insurance policy?
While it’s not a legal requirement, mortgage protection can be a smart move, especially if your have a family or dependants. If you’re no longer here to make mortgage payments, this type of insurance can help your family keep their home by paying off the remaining mortgage and easing the financial pressure at a difficult time.
How much does it cost?
Prices vary depending on your personal circumstances, the size of your mortgage and the type of cover you need. Cover can start from as little as £5 per month*, but factors that affect the cost can include:
- Age
- Health and medical history
- Lifestyle choices (such as whether you’re a smoker and how much alcohol you drink)
- Mortgage amount and term
- Type of cover - level or decreasing
- In general, decreasing cover is cheaper than level cover because the insurer’s risk reduces as your mortgage balance decreases over time
*Mortgage Protection Insurance from £5 per month: 30 year old female client, non-smoker- decreasing £150,000 over a 25 year term - £5.02 pm. Quote obtained 16/01/2026.
What’s the ‘right amount’ of life insurance cover?
It’s different for everyone. To figure out the ‘right amount’ of life insurance cover for you, you’ll want to factor in your outstanding debt, mortgage, your family commitments (now and in future) and what you can afford to spend each month in premiums.
Our life cover calculator will help. And after you calculate how much cover, give us a call (or leave your details we’ll call you) so LifeSearch can search the market for policies that match what you’re after.
How much life cover should you have?
How LifeSearch can support you
At LifeSearch, we help you find protection that fits your life and protects what matters most.
You can speak to one of our advisers for personalised guidance, which we always recommend. We listen to your needs, explain your options in plain English, and guide you to cover that’s right for you – without pressure or jargon.
Alternatively, you can get a quote and buy online without advice if you prefer. In which case you will be responsible for ensuring the policy meets your needs.
We work with the UK’s leading insurers to find the right policy for your needs. Since 1998, we've protected more than 1.48 million individuals, families and businesses, giving real peace of mind when life takes an unexpected turn.
"Great experience getting the best quote for mortgage and life insurance. Owen was very helpful and advised us on the best combination of products to cover our needs.”
Frequently asked questions
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