| If you have a joint mortgage
with a partner, friend or family member then it is also
possible to take out a joint mortgage protection insurance
policy to cover both of you and your property. You can
usually arrange your UK joint mortgage protection insurance
so that a proportion is allocated to each person: 50-50,
or 70-30, for example. With this arrangement, if one of
the insured makes a claim then they will be eligible to
receive benefits according to the proportion of mortgage
protection that they were originally offered.
If UK joint mortgage protection insurance cover does
not appeal to you, or you feel that you require more
extensive cover then it is also possible to arrange
mortgage protection insurance on a 100-100 basis. This
way 100% of the mortgage protection insurance benefits
are paid even if only one of the joint lenders loses
their income. Due to the extended nature of this joint
cover, the insurance premiums are generally higher.
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