When you take out a mortgage, you’re committing to a long-term financial responsibility. While it’s easy to focus on interest rates and repayment terms, it’s just as important to think about how your mortgage would be paid if your circumstances suddenly changed.

Mortgage protection insurance gives you peace of mind that your loved ones or household income won’t be left vulnerable if something unexpected happens. There are different types of cover available, each designed to support you in specific situations. Our mortgage advisors in Manchester can help you understand which options make the most sense for you.

Covering Your Mortgage in the Event of Passing

Life insurance is often the first type of protection people consider when taking out a mortgage. It provides a lump sum payout if you pass away during the term of the policy. This money can be used by your family or partner to pay off the remaining mortgage balance, helping them stay in the home without added financial pressure.

Some policies are set up with a level payout, while others reduce in line with your mortgage balance. The right structure depends on the type of mortgage you have and your long-term plans. We’ll guide you through the differences so you can choose a policy that offers the right level of cover and reassurance.

Protection If You’re Diagnosed With a Serious Condition

Critical illness cover pays out a tax-free lump sum if you’re diagnosed with a serious medical condition listed within the policy, such as certain stages of cancer, heart attack or stroke. This kind of cover is designed to help you through a difficult period without the added strain of mortgage payments or everyday bills.

The payout can be used however you need it whether that’s paying off the mortgage, covering medical treatment, or helping you adjust to changes in your lifestyle. Each policy varies in what it includes, so it’s important to look at the definitions and scope of cover carefully.

Our advisors in Manchester will explain what’s covered and help you find a policy that fits your needs, especially if you have family or financial commitments that would be affected by long-term illness.

Covering Monthly Bills If You Can’t Work

Income protection is designed to support you if you’re signed off work due to illness or injury. Unlike critical illness cover, which pays a lump sum, income protection pays a regular monthly benefit to help replace your income while you recover.

This can be especially important if you’re self-employed or your employer doesn’t offer long-term sick pay. The benefit is usually based on a percentage of your income and kicks in after a set waiting period.

With the cost of living rising, having a backup plan in place can make a real difference. We’ll look at your employment setup, monthly costs, and savings to help you decide whether income protection is right for you.

Flexible Cover With a Menu Plan

A menu plan is a way to combine different types of cover into one policy, tailored to your budget and priorities. For example, you might take out life cover alongside critical illness and income protection — all under one plan.

This flexible approach allows you to build the cover you want and control the total cost of your monthly premiums. It can also make managing your protection easier, with everything under a single policy.

Our team will talk through your needs and show you how a menu plan could be structured to support your mortgage and your wider financial security.

Supporting Your Family With a Regular Income

Family income benefit is another way to protect your household if you pass away during the policy term. Rather than paying out a lump sum, it provides a monthly income for the rest of the policy duration, helping your family cover living costs, mortgage payments, and other regular outgoings.

This type of policy can be especially useful for families with young children or those who would struggle with the loss of income over time. It offers a more predictable form of support and can be aligned to your mortgage term or your family’s needs.

We’ll help you understand how this differs from traditional life cover and whether it’s a good fit for your situation.

Date Last Edited: October 27, 2025