Why It Matters
The Safety Net Your Family Deserves
Most people insure their car, their home, and their mobile phone. Far fewer insure their income — the single thing that pays for all of it. If you could not work tomorrow, how long could you maintain your mortgage payments?
The right protection policy means your family does not have to make devastating financial decisions on top of an already devastating situation.
- Your mortgage continues to be paid even if you cannot work
- Your family keeps the home if you die or become critically ill
- You do not drain your savings or rely on state benefits
- Peace of mind for you, and for the people who depend on you
Products Explained
The Four Main Types of Protection
Each product covers a different risk. We will explain which ones make sense for your situation.
🛡️ Life Insurance
Provides a lump sum payout if you die during the policy term
| Best for | Anyone with a mortgage, financial dependants, or both |
| Types | Level term (fixed payout), decreasing term (mirrors your mortgage balance), whole of life |
| Payout | Tax-free lump sum paid to your beneficiaries — can be used to pay off the mortgage or provide ongoing income |
🏠 Mortgage Protection Insurance
Specifically designed to repay your mortgage if you die or become critically ill
| Best for | Homeowners who want targeted cover matched to their mortgage balance |
| Types | Decreasing term life cover, combined life and critical illness |
| Payout | Matched to your outstanding mortgage — decreases over time in line with your balance |
🏥 Critical Illness Cover
Pays a tax-free lump sum if you are diagnosed with a specified serious illness
| Best for | Anyone who wants financial security following a serious diagnosis |
| Conditions covered | Cancer, heart attack, stroke and many other serious conditions — exact list varies by insurer |
| Payout | Tax-free lump sum on diagnosis — use it to pay off your mortgage, fund treatment, or adapt your home |
💷 Income Protection Insurance
Replaces a portion of your income if you are unable to work due to illness or injury
| Best for | Self-employed individuals or anyone without adequate sick pay from their employer |
| Key benefit | Pays out for as long as you are unable to work — not just for a fixed number of months |
| Payout | Monthly income replacing up to 60-70% of your gross earnings until you recover or retire |
Getting the Level Right
How Much Cover Do You Need?
There is no single right answer — it depends on your mortgage balance, income, family circumstances, and existing employee benefits. Here is a practical starting framework:
Life & Mortgage Protection
- At minimum, enough to pay off your outstanding mortgage balance
- If you have dependants, also consider several years income to replace your earnings
- Factor in any other debts, childcare costs, or financial goals your family has
Critical Illness Cover
- Enough to pay off your mortgage is a good starting point
- Consider additional funds for treatment, home adaptations, or lost income during recovery
- Check what your employer provides — some group schemes include limited critical illness
Income Protection
- Typically 50-70% of your gross income
- Set the deferred period to match how long your employer pays sick pay
- Self-employed? Start the deferred period as short as possible — day one or week one
Is This You?
Who Needs Protection Insurance?
🏠 Homeowners
A mortgage is a long-term financial commitment. Protection ensures it continues to be serviced even when income stops — protecting both your home and your credit history.
👨👩👧👦 Families with Dependants
If other people rely on your income — children, a non-working partner — the financial consequences of something happening to you extend far beyond your mortgage payment.
💰 Single Income Households
When only one person is earning, there is no backup. If that income disappears, the impact is immediate and severe. Protection creates the buffer that makes you resilient.
💼 Self-Employed & Business Owners
No sick pay. No employer group scheme. If you cannot work, your income stops immediately. Income protection is not optional if you are self-employed and have a mortgage to pay.
🔑 Buy-to-Let Landlords
A serious illness or death does not just affect your home — it affects your rental income and your ability to service investment mortgages.
🏡 First-Time Buyers
Getting onto the property ladder is a significant achievement. Protection ensures that is where you stay, whatever life throws at you.
What About Pre-Existing Conditions?
A pre-existing medical condition does not necessarily mean you cannot get protection insurance. Many insurers will offer cover with an exclusion for the specific condition, or at a higher premium.
We work with specialist insurers who are experienced in dealing with complex medical histories. Some cover is almost always better than none.
“We had been so focused on getting the mortgage sorted that protection was an afterthought. Home Me Mortgages spent time explaining our options properly — no pressure, no upselling. When Tom had to take three months off work last year, the income protection policy they arranged paid out from the fourth week. It covered the mortgage completely.”
— Sarah & Tom B., Windsor
For a more local view of how we support homeowners and families around our office, visit our Marlow mortgage broker page or our Windsor mortgage broker page.