Why mortgage clients need income protection

'The risks for going off work sick are far higher than dying or becoming critically ill'

clock • 6 min read

That far more life and CI cover is taken out by mortgage applicants compared to IP is a 'strange paradox'

Could it be possible that the protection industry might have made a mistake?  What I'm talking about is the phrase ‘mortgage protection'. When you say the words ‘mortgage protection' what protection insurance do you instinctively think of? You're probably thinking of life cover? Critical illness cover? Or perhaps decreasing term assurance? These are all insurance products that provide a lump sum to repay the mortgage in full should one of the mortgagors die or suffer a critical illness during the term of their mortgage. These products are important and worthwhile for people taking out...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Shepherds Friendly partners with Primis

Shepherds Friendly partners with Primis

Income protection distribution

Jaskeet Briah
clock 21 May 2026 • 1 min read
Cirencester Friendly introduces minimum benefit guarantee for IP

Cirencester Friendly introduces minimum benefit guarantee for IP

Maximum of £1,500 a month

Jaskeet Briah
clock 12 May 2026 • 1 min read
The Exeter increases maximum IP benefit

The Exeter increases maximum IP benefit

Extended access for rehabilitation support

Jaskeet Briah
clock 07 May 2026 • 2 min read