PMAS Mortgage Protection
Product information
A repayment mortgage does not provide you with
any life cover. If you should die during the term of the mortgage,
your dependents will be left to pay the mortgage.
Mortgage protection is life insurance
specifically designed to pay your repayment mortgage off should the
worst happen.
We offer very competitive rates for our
mortgage protection plan. You don’t have to take out mortgage
protection with the company you get your mortgage from – leaving
you free to shop around for the best rates and service.
You can see just how competitive our rates are
by getting a
no-obligation quote online.
The benefits
- A cash payment will be made
if the person covered dies during the term of the plan. The amount
paid will normally be enough to pay off the mortgage in full –
provided interest rates have not exceeded 9% for a significant
period
- Our rates differentiate
between male/female and smoker/non-smoker* status
- You choose the length of
plan most suitable for your requirements, between 1 and 40
years
- It’s flexible – anyone
between the age of 16 to 78 can apply for a plan, as long as the
plan expires on or before your 80th birthday
- You can change who’s
insured – should your circumstances change, the
people covered by your plan can be changed - subject to medical
evidence and a revised quote
- The plan can move with you –
if you move or remortgage, you can take out an additional or
replacement plan
- Your costs are kept to a
minimum because the plan has no cash-in value and no cash
return at the end of the plan
- Your payments can be deducted from
your salary or pension with most forces. We’ve got a
full list of all
forces we can take payments directly from
How to apply
Before applying make sure you’ve read the
key features page. You’ll
need to have your bank details or payroll number to hand along with
any details of your medical history.
You can:
We will also need to know your height/weight
details in metric measurements and you may need to provide your
GP’s details. If you only know the imperial measures, use
our conversion calculator.
If you’re applying for joint cover or your
partner is to be the life assured, you’ll need their details
as well.
Proving your identity
To comply with money laundering regulations,
we may carry out an on-line identity check with a reference agency
when you apply. The agency will add a note to your credit record to
show that an identity check has been made, but this information
will not be available to anyone else and will not affect your
credit rating.
You can find out more about why we need to
check your identity on the
Financial Services Authority website.
*you are a non-smoker if you have not smoked
tobacco in the last 12 months and have no intention of doing so in
the future. Your smoker status when the plan is taken out applies
for the entire term.