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Barclays Life Insurance for Mortgage Holders

Help protect the home they love

We’ll help you understand the options, and recommend the most effective way to protect your mortgage, with Barclays Life Insurance for Mortgage Holders provided by our partner Legal & General. You can also choose to add critical illness cover too. Not just covered, Barclaycovered.

  • Provides a lump sum on death or diagnosis of terminal illness
  • Free advice from a mortgage adviser to help you choose the right level of cover
  • Monthly premiums from £6
  • How it works

    Life Insurance for mortgage holders is designed to help protect you or your family against the impact of death, terminal illness or critical illness (if chosen). . This policy is provided by Legal & General. It doesn’t matter if your mortgage is with Barclays or not – our qualified mortgage advisers can calculate the most effective cover for your mortgage to suit your needs.

    • Provides a lump sum that could be used to repay your mortgage debts
    • Monthly premiums start from £6 a month. Our advisers will calculate how much cover you need, based on your outstanding mortgage debt
    • Choose between level or decreasing cover
    • Tailored advice from our mortgage advisers in branch or over the phone
    • Cover during your application – Legal & General will cover you from when they receive your application form for up to 90 days or until they accept, postpone or decline your application. Speak to a Barclays mortgage adviser in branch or over the phone for more details
    • Option to add Critical Illness Cover at an additional cost, which provides a lump sum if you’re diagnosed with 1 of over 40 listed conditions. It can be used on anything from paying the mortgage to covering medical care

    Further terms, conditions and exclusions apply – ensure you read the Barclays Mortgage Protection Plans Key Features 120 KBpolicy terms and conditions 190 KB and guide to Critical Illness Cover 430 KB documents1 so you know what's covered and what's not.

  • Policy types

    We have 2 types of cover available. Our advisers will help you choose the right amount of cover you need:

    Level-term cover

    • Provides a lump sum on death or diagnosis of terminal illness during the term of the policy, to help clear whatever is outstanding on your mortgage at that point. A terminal illness means you are not expected to live for more than 12 months
    • Premium and amount of cover stays the same throughout the term unless you alter your policy

    Decreasing-term cover

    • Provides a lump sum on death or diagnosis of terminal illness to help clear whatever is outstanding on your mortgage at that point. A terminal illness means you are not expected to live for more than 12 months
    • Amount of cover is designed to help cover a repayment mortgage and so the amount of cover reduces roughly in line with your remaining mortgage

    Need joint cover?

    With both level term and decreasing term, you can take out cover for just yourself or with your partner/another loved one. The policy only pays out once, so if 1 person dies and a claim is paid, the policy will end.

    Further terms, conditions and exclusions apply – ensure you read the Barclays Mortgage Protection Plans Key Features 120 KBpolicy terms and conditions 190 KB and guide to Critical Illness Cover 430 KB documents1 so you know what's covered and what's not.

  • What you need to know

    Life Insurance for mortgage holders (with advice) is only available to UK residents who have a mortgage or are in the process of applying for a mortgage. This is regardless of whether your mortgage is with us or another lender.

    If you choose decreasing-term cover, there are some circumstances when the amount of cover may not be enough to pay off your mortgage, for example if your mortgage interest rate averages over 10% during the policy term or if you change your mortgage.

    During the application process, our mortgage advisers will calculate the level of cover that is suitable for your mortgage. Call us on 0333 202 7580 2 to find out more, or visit your nearest branch.

    What if I stop paying?

    If you stop paying the premiums before the end of your policy, your cover will end after 30 days.

    This plan does not have a cash-in value at any time, so you won’t get anything back if you decide to stop your plan. The plan will also not pay out if you reach the end of the plan without making a claim.

    Further terms, conditions and exclusions apply – ensure you read the Barclays Mortgage Protection Plans Key Features 120 KBpolicy terms and conditions 190 KB and guide to Critical Illness Cover 430 KB documents1 so you know what's covered and what's not.

Interested?

Call us

Call the Barclays Mortgage Helpline on 0333 202 75802 3 option 3.

Cover is provided by Legal & General Assurance Society Limited, who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our mortgage advisers are unable to give you advice on trusts or offer whole of market advice. Trust planning can improve the tax efficiency of your policies and ensure that in the event of the worst happening the money always goes to the intended beneficiaries. If you require independent financial advice you can find an IFA by visiting Unbiased.co.uk.