Mortgage protection ensures your payments continue if something goes wrong. Three main types cover different risks.\n\nDecreasing Term Life Insurance — Pays a lump sum if you die during the policy term. The sum assured decreases over time roughly in line with your outstanding mortgage balance. Cheapest option. Typical cost for a 30-year-old non-smoker: 8 to 15 pounds per month for 200,000 cover over 25 years.\n\nLevel Term Life Insurance — Sum assured stays the same throughout. More expensive but greater protection in later years. Useful for interest-only mortgages where the balance does not reduce, or if you want payout to cover more than the mortgage.\n\nCritical Illness Cover — Pays a tax-free lump sum if diagnosed with a specified condition (cancer, heart attack, stroke, and around 40 to 60 others). Can be added to life insurance or purchased standalone. Significantly more expensive because claim risk is higher. Typical cost: 30 to 80 pounds per month for 200,000 cover.\n\nIncome Protection — Pays a monthly income (50% to 70% of pre-tax earnings) if unable to work due to illness or injury. Pays until you return to work, reach retirement, or the policy ends. Covers virtually any condition, not just a specified list.\n\nWhat Lenders Require — Buildings insurance is required but life insurance is not legally mandated. However, some lenders strongly recommend it. Having no protection means your family must keep up payments or sell if you die.\n\nChoosing the Right Mix — Decreasing term life to cover the mortgage balance plus income protection for monthly bills. Add critical illness if budget allows. Premiums are cheapest when young and healthy, so arrange cover when you first take out your mortgage.