Mortgage life insurance

Mortgage life insurance

A mortgage is a big commitment. You don't want your loved ones to have to worry about how they're going to make the repayments if you're not around. Even if you're not earning a salary, your contribution to the household is still invaluable. How would your family cope and make ends meet without you?

With mortgage life insurance you'd know that the cover could help pay off the mortgage if you died during the length of the policy, so your loved ones might not have to think about selling up or downsizing. And, if you add Critical Illness Cover (extra premium) this could also pay out if you're diagnosed with one of our specified critical illnesses during the length of the policy.

This is not a savings or investment product and has no cash value unless a valid claim is made. Please refer to the Policy Summary for details, exclusions and limitations that apply.

Guide to life insurance

Find out about the different types of life insurance before you make a decision.

Choose between level or decreasing cover

Level cover 

Your cash lump sum value remains the same over the length of the policy, unless you choose to alter it.

Designed to help protect an interest only mortgage.

Decreasing cover

Your cash lump sum value decreases over the length of the plan roughly in line with the way a repayment mortgage decreases.

Designed to help protect a repayment mortgage.

More about mortgage life insurance cover ...

Early days advanced payment

A payment of up to £5,000 to help bring some early financial relief while the full claim is processed.

Premiums from £6

Premiums start from just £6 a month - depending on your personal circumstances.

Add Critical Illness Cover

You'll be helping to financially protect your family if you were diagnosed with one of the specified critical illnesses during the length of the policy - available for an additional premium.

Choose cover to suit your needs

Choose how long you want the cover to last for, how much the lump sum will be, and between level or decreasing cover to suit your mortgage.

Waiver of premium

Cover yourself if you can't work. This benefit pays your premium after 26 weeks if you become too ill or incapacitated due to sickness or injury to carry out your normal occupation (available for an additional premium).

M&S E-Giftcard

*Get a £70 M&S E-Gift Card

*Enjoy £70 to spend at M&S, on us. The offer is limited to one e-gift card per person and two per household. Once you have paid three consecutive monthly premiums by Direct Debit from the policy’s start date or after three months if you have paid annually, Nationwide will arrange for a third party to send you a £70 M&S e-gift card (which may take 30 working days to arrive from that date). Details of how to redeem your e-gift card will be sent to your email address. Where we have no valid email address, details on how to redeem your e-gift card will be sent to the postal address registered on your policy. In the event that you've no access to the internet, a physical M&S gift card will be sent to the postal address registered on your policy upon request. We will only share your contact details (which include your address) with the third party so that they can send you the e-gift card; your details won't be used for any other purpose.

We reserve the right to vary and/or withdraw this offer without notice.

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Life insurance

With life insurance you can take steps to make things easier for your family if you die during the length of the policy.

Income Protection Benefit

If you can't work due to incapacity caused by injury or an illness, income Protection Benefit may be able to cover your monthly living costs.

M&S is not a sponsor of this promotion. May be used to purchase goods of a higher price than the amount on the card, on payment of the difference. Cannot be exchanged for cash or used to pay for M&S Bank services, products or outstanding card balances, made to measure shirts, personalised cards or M&S energy or to buy another gift card or e-gift card. Can be used in all M&S stores in the UK and Channel Islands, including outlet, railway, motorway and airport stores but not in BP Connect stores. Are valid for 24 months from the last transaction (transactions include balance enquiries). Any remaining balance will be cancelled on expiry of the validity period. Cannot be returned or refunded, except in accordance with your legal rights, for example in the event they are not satisfactory quality. Should be treated as cash, M&S will not accept liability if lost, stolen or damaged.

Critical Illness Cover

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