Pretty much every mortgage will have a mortgage protection policy attached to it. Most lenders and will insist on you taking out mortgage protection before they will give you a mortgage. It works like a life assurance policy on the mortgage and insures that the mortgage is paid off if the owner dies. As your circumstances may change over the course of a mortgage, it's ... a good idea to review your mortgage protection policy every few years.
If you are a couple, then the protection should be taken out on a first death basis. If one of you dies, then the mortgage will automatically be paid off. You can get add-ons to the policy that cover critical illness. If you fall ill and can't work for example, then your mortgage is covered. I know it's quite morbid to talk about but it is reassuring and gives peace of mind to know that it's one less thing to worry about. It's best to be fully protected for those rainy days.
