Protection

Life is unpredictable, and unexpected events such as job loss, illness, or injury can make it difficult to keep up with mortgage payments. Without the right protection, you or your family could face financial strain or even risk losing your home. At Three Key Mortgages, we work with trusted insurance providers to offer tailored solutions that ensure your home remains secure, no matter what challenges arise.

A mortgage is a long-term financial responsibility, and the right protection is essential. Life Insurance, Critical Illness Coverage, Income Protection, and Home Insurance provide different levels of security. Life insurance ensures your mortgage is covered in the event of your passing, while critical illness cover provides financial support if you are diagnosed with a serious condition. Income protection replaces lost earnings due to illness or injury, ensuring you can keep up with payments, and home insurance safeguards your property against damage or loss.

Flexibility and Financial Security

Mortgage protection isn’t just about covering unexpected costs—it also provides flexibility. Many policies can be adjusted as your circumstances change, ensuring that you remain financially stable throughout the life of your mortgage. Whether you're a first-time buyer, an investor, or refinancing, having the right protection ensures you can handle whatever life throws your way.

A well-planned mortgage protection strategy keeps your finances in check and your home safe. Don’t wait until it’s too late, speak to one of our advisers today to explore your options and ensure that your future remains secure.

"I Don't Need Protection"

Here's Why You Do

"It’s Too Expensive"

Many people believe mortgage protection insurance is costly, but plans can be tailored to suit any budget. Whether you need basic coverage or a comprehensive policy, we’ll help you find the right option without unnecessary costs. Get a free quote today and explore budget-friendly coverage.

"I Don’t Need It"

If you're young, healthy, and employed, it might seem like an unnecessary expense. However, accidents, illnesses, and job losses happen when you least expect them. Mortgage protection ensures your home is covered even if the unexpected occurs. Protect your future and speak with our advisers today.

"My Employer Provides Coverage"

While some employers offer financial protection, these benefits often have limits and may not fully cover mortgage payments. If you change jobs, you may also lose this coverage. A private mortgage protection plan ensures security no matter where you work. Take control of your protection, and find a plan that works for you

"I Won’t Get Approved Due to Health Issues"

Some people assume they won’t qualify for mortgage protection due to pre-existing medical conditions. However, many insurers offer specialist policies that cater to individuals with health concerns. Some plans provide non-medical underwriting, meaning you may still be eligible for coverage. Find out what options are available—speak with an expert today.

"I Can Use My Savings"

While savings can provide a cushion, relying on them to cover mortgage payments can deplete your financial reserves quickly. A protection plan ensures your savings remain intact for other emergencies or future investments. Keep your savings secure—explore mortgage protection options today.

"I Rent My Home, So I Don’t Need It"

While mortgage protection is specific to homeowners, renters can benefit from income protection insurance, which covers rent payments if you cannot work. If you’re renting, consider a plan that keeps you financially secure.

Life Insurance with Mortgage Protection

Covers you against: Death or terminal illness

Benefit paid: Lump sum

Ideal for: Homeowners with dependents

Life insurance provides a tax-free lump sum to your dependents if you pass away. This can be used to clear the remaining mortgage, ensuring your family isn’t left with financial uncertainty. Level Term Assurance maintains a fixed payout throughout the policy term, making it ideal for interest-only mortgages, while Decreasing Term Assurance reduces in line with your mortgage balance, better suited for repayment mortgages.

Pros: Ensures full mortgage repayment, fixed premiums available, tax-free payout.

Cons: Requires medical underwriting, no temporary income support, may outlast its necessity if the mortgage is repaid early.

Critical Illness Cover

Covers you against: Serious illness diagnosis

Benefit paid: Lump sum

Ideal for: Homeowners who depend on their income

Critical illness cover provides a tax-free lump sum if you’re diagnosed with a covered condition such as cancer, heart attack, or stroke. The payout can be used to cover mortgage payments, medical expenses, or other living costs during recovery. Some policies offer tiered payouts based on illness severity.

Pros: Financial support during serious illness, covers a range of conditions, can be combined with life insurance.

Cons: Coverage limited to listed conditions, pre-existing illnesses may be excluded, premiums increase with age.

Family Income Benefit

Covers you against: Death

Benefit paid: Monthly income

Ideal for: Families needing ongoing financial stability

Instead of a lump sum, this policy provides tax-free monthly payments to dependents, helping cover mortgage and household costs over time. Payments last for the term duration, ensuring sustained financial support for beneficiaries. Some policies include inflation protection to maintain purchasing power.

Pros: Provides steady income for dependents, often more affordable than lump sum life insurance, can include inflation adjustments.

Cons: Only pays if death occurs within policy term, payments stop when the term ends, not ideal for lump sum mortgage clearance.

Income Protection Insurance

Covers you against: Illness or injury preventing work

Benefit paid: Monthly income (50-70% of salary)

Ideal for: Workers reliant on their salary

Income protection provides ongoing payments if you’re unable to work due to illness or injury. Unlike critical illness cover, it supports a broader range of conditions and ensures financial stability. Payments continue until recovery, retirement, or policy term end.

Pros: Offers continuous financial support, covers more conditions than critical illness insurance, flexible deferment periods.

Cons: Waiting period before payments start, premiums vary based on occupation and risk, does not cover redundancy.

Building Protection Insurance

Covers you against: Property damage (fire, flood, storm, vandalism)

Benefit paid: Repair or rebuild costs

Ideal for: Homeowners protecting their property investment

Building insurance covers the cost of repairing or rebuilding a property due to unexpected damage. Most mortgage lenders require it as a condition of borrowing. Coverage includes fixtures, garages, and external structures, and some policies provide temporary accommodation if the home becomes uninhabitable.

Pros: Protects against expensive repairs, offers flexible coverage options, often required by mortgage lenders.

Cons: Premiums depend on location risk factors, some damage types may be excluded, and underinsurance can lead to unexpected costs.

Tailored Plans

Plan for a stable financial future with expert guidance from Three Key Mortgages. Our financial specialists will work with you to create a customised plan that aligns with your long-term goals.

Peace of Mind

Our range of insurance and protection services is designed specifically for Three Key Mortgages clients. Secure your future with personalised coverage options that fit your needs.

Job Loss Protection

Losing a job can be stressful, but with mortgage protection, you can ensure your payments are covered. Our team at Three Key Mortgages will help you navigate your options and make informed financial decisions.

Financial Security

Considering refinancing or adjusting your mortgage plan? We provide tailored solutions to help you save money and achieve financial stability, ensuring your home remains protected.