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Life insurance for mortgage protection

Peace of mind for your home

Whether you’re a first-time buyer or only have a few years left on your mortgage, make sure your home is protected if you die or become terminally or critically ill.

Barclays Life Insurance is underwritten by Legal & General Assurance Society Limited. When you select ‘Get a quick quote’, we’ll take you to Legal & General’s website to complete your application securely. Terms, conditions, exclusions and eligibility criteria apply.

Decide what’s right for you

Single or joint policy

Usually when people have a joint mortgage, they take out a joint life insurance policy, but you can get a single policy just for yourself.

A joint policy can be used to pay off the mortgage when one person dies, but it will only pay out once. While this can seem the cheaper option, bear in mind that having two single policies means that two lump sums could be paid out.

Level or decreasing cover

With level cover the lump sum stays the same over the period you’re insured for. You choose how long you want to be insured for and how much to receive.

With decreasing cover the lump sum reduces over time, usually in line with your repayment mortgage.

Whatever kind of mortgage you have, bear in mind that if the full amount of your mortgage isn’t protected, then it won’t be paid off if anything happens to you.

Term

You can choose how long you want to have life insurance cover for – usually this will be aligned to your mortgage, so it can be paid off if you die before the end of your mortgage term. If you choose a shorter term for your life insurance, your mortgage won’t be protected for its duration.

Critical Illness Cover

If you’re diagnosed with one of our 40 specified critical illnesses [PDF, 731KB] such as cancer, heart attack or stroke you’ll get a lump sum, to keep and spend however you’d like. The money could be used to repay your mortgage and help with household expenses, giving you peace of mind while you recover. You can add this option to your life insurance policy.

How it works

What’s covered

Death: You’ll be covered if you die before the end of your policy. We’ll also cover you if you die between exchanging contracts and completing your property purchase – up to a maximum of 90 days1

Terminal illness: If you’re diagnosed with a terminal illness and you’re expected to die within 12 months, the policy will pay out at no extra cost. We’ll need verification from your hospital and Legal and General’s medical team

Critical illness: If your policy includes Critical Illness Cover, we will pay out if you're diagnosed with one of our specified critical illnesses

One-time payment: We’ll only pay the amount of cover once. On a joint policy, this will be when the first person dies or has a valid claim. The remaining policy-holder can then take out a new policy if they wish to do so.

What isn't covered

Incorrect information: If you don't answer our questions honestly and in full before your policy starts, we won’t pay out

Suicide: If, within the first year of the policy, you die and your death is caused by suicide or intentional and serious self-injury, you won’t be covered

Critical illnesses: We won't pay out your amount of cover if the policy includes Critical Illness Cover and you’re diagnosed with a critical illness that doesn't meet our definition2

Need more information or advice?

Visit a branch

Have a chat in person with one of our mortgage advisers, who can help tailor your policy and answer any questions.

Call us

Call us on 0333 202 7580 3, option 3. Monday to Friday 8am to 9pm, Saturday 9am to 5pm and Sunday 9am to 3.30pm.

Ready to apply?

We’ve teamed up with Legal & General to create a life insurance product that’s designed to protect your home if you die or become terminally or critically ill. When you select ‘Get a quick quote’, we’ll take you to Legal & General’s website to complete your application securely.

Legal & General will ask you a few questions about your health and lifestyle before giving you a personalised quote. We will both only use your information for this application and we’ll keep it fully confidential.

When you have an initial price you can adjust the cover amount, monthly cost or duration until you’re happy with your quote. 

Things to have handy

  • Your mortgage details including the outstanding amount and term
  • Details of your other insurance policies 

The impact of coronavirus on life insurance

During these unprecedented times, we’re continuing to offer life insurance to help support and protect people in a time of need. If you have a policy with us, or if you’re not sure what our life insurance covers, take a look at our FAQs.

Summary

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Don't have a mortgage?

Have you looked into Barclays Simple Life Insurance? It's quick, straightforward and could help you protect your loved ones if you die or become terminally ill.

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Any questions?

Check out our explanations for common terms relating to life insurance, and get more information on the topic.