AGA Mortgages are able to offer a number of insurance products to protect you, your family and your home.

Whatever your circumstances we can help…

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We can provide you with expert insurance advice and guidance on how to best protect yourself. What type of policy and the value depends on your circumstances.

Why do I need insurance?

If you have a partner, spouse or children and have a mortgage it is highly recommended that you take some kind of protection should anything happen to you. For instance, should you die prematurely; your partner or family would be left to pay the mortgage and bills.

Even if you are single with no dependants it is advisable to take out some kind of protection as should you not be able to work for any reason, who would pay your mortgage and bills?

Questions you should ask yourself

  • If you or your partner were to die prematurely, how would the mortgage and bills get paid?
  • If you or your partner were to become ill, disabled or unemployed and couldn’t work how would you pay the mortgage and bills?
  • How would you provide for your family should you be unable to work?

What types of policies are available?

Mortgage Payment Protection (MPPI)

This type of policy pays out a monthly amount for typically a 12 month period if, for instance, you have an accident, become ill, become unemployed or are made redundant.

Payment protection insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For expert information about insurance, please visit the Money Advice Service.

Life Assurance

Life Assurance is an insurance policy which pays out a lump sum should you die prematurely. This can then be used by your partner to pay off the mortgage.

  • Level Term – This is a policy which pays out a fixed amount of money in the event of your death. The term is usually set to match the term of your mortgage.
  • Decreasing Term – This is a policy which reduces in value in line with your mortgage.

Buildings & Contents

Buildings insurance is a pre-requisite to getting a mortgage. It is advisable to also have your contents insured in the event of any damage. By taking out a Buildings & Contents insurance policy you are protecting yourself should anything happen, for instance, fire, flooding, etc.

Critical Illness

This type of policy pays out a lump sum if you were to be diagnosed with a critical illness.

Income Protection

This type of policy pays a monthly amount should you be unable to work, for instance, have an accident or become ill.

Payment protection insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For expert information about insurance, please visit the Money Advice Service.