Mortgage and Rent Cover:
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Simple, affordable protection with no financial underwriting
Mortgage and Rent Cover can protect your client's monthly mortgage or rental payment should they be unable to work due to illness or injury.
Our cover is a great option for your clients who are just getting on, or trying to get on the property ladder. It's also useful for clients with irregular earnings who may struggle to get traditional income protection. Mortgage and Rent Cover includes a number of features with them in mind:
- Cover is based on your client’s monthly mortgage or rental payment. The minimum amount of cover available is £100 and the maximum is £2,000 per month.
- No financial underwriting is required upon application. Your client will just need to show you documentary evidence at application to show the regular mortgage or rental payment that they’re legally responsible for.
- Our Mortgage and Rent Guarantee means we guarantee we’ll pay the full chosen amount of cover throughout the claim.
- Includes a range of guaranteed increase options so your client has flexibility to increase their amount of cover.
- 'Pay my mortgage' facility offered for clients with a mortgage so they can choose to have all or some of their claim payments paid directly to their lender.
- Part of the LV= Flexible Protection Plan, our menu plan.
- Includes access to LV= Doctor Services, a Legal Advice Line and other member benefits.
Product profile
Mortgage and Rent Cover is suitable for many of your clients – learn more about the main features, suitability, costs and waiver of premium here:
- To apply, your client must be responsible for the payment of a monthly mortgage or rental amount on their main residence in the UK.
- To apply, your client must be permanently living in the UK for at least the last two years, aged between 17 and 59, and registered with a GP in the UK continuously for two years.
- To apply, your client must not have any other income protection policies, mortgage or rent payment protection policies in place.
- Benefits paid at claim may reduce any state benefits your client might be entitled to.
- We won’t pay out in the event of a normal pregnancy.
- This cover only pays out if your client is unable to work because of illness or injury. It doesn't pay out if your client is unable to work for any other reason.
- The policy won’t pay out if the client is ill but continues to work.
- If your client stops paying their premiums, their cover might stop.
- This cover is offered on a level basis only, it won’t keep up with inflation and could buy less in the future.
- Your client must be unable to work for the whole of their chosen waiting period before we can start to pay a claim.
- There is no cash value at any time.
Cover and premiums available
Level cover
Mortgage and Rent Cover is available with level cover only. Level cover offers a fixed amount of cover – it won’t change and won’t keep up with inflation. You clients cover won’t keep up with increases in their mortgage or rent so it’s important the cover is reviewed regularly.
Guaranteed premiums
Mortgage and Rent Cover is available with guaranteed premiums only. This means the premium is fixed and it won’t change.Level cover
Mortgage and Rent Cover is available with level cover only. Level cover offers a fixed amount of cover – it won’t change and won’t keep up with inflation. You clients cover won’t keep up with increases in their mortgage or rent so it’s important the cover is reviewed regularly.
Flexible protectionTailor your client’s protection to suit their budget and lifestyle with our Flexible Protection Plan – the only menu plan in the market offering specialist income protection. Our Flexible Protection Plan also includes our Life and Critical Illness cover, Life insurance and Family Income Benefit.
And because it’s a menu you’ll benefit from a simpler on-boarding process through Fastway– just one application, one set of underwriting and one Direct Debit.
And because it’s a menu you’ll benefit from a simpler on-boarding process through Fastway– just one application, one set of underwriting and one Direct Debit.
Protection options
Mortgage and Rent Cover is ideally suited to clients who want simple, affordable cover with no financial underwriting. But what if your clients want more comprehensive cover?
Income Protection can cover up to 60% of your client’s income and includes valuable features to support your client and their family.
LV= Doctor Services
We’re here for your clients when they need us most. Your clients and their spouse/partner* have access to 6 expert medical advice services – all accessible in a handy app or by phone, wherever they are:
- Remote GP 24/7. Unlimited consultations with a UK doctor available by phone or video.
- Prescription services. Get a private prescription without the need for your client to visit their local GP.
- Second opinion. Check a diagnosis and get advice on treatment options with a UK medical specialist by video or face to face consultation.
- Remote physiotherapy. Up to five free sessions** with a trained UK physiotherapist and receive a bespoke treatment plan through video consultations.
- Remote psychological support. Up to five free sessions** of mental health support including counselling and Cognitive Behavioural Therapy from a network of highly trained therapists.
- Discounted health MOTs. Benefit from 25% off health MOTs - a service that provides an assessment of overall health, identifying any risk and areas of improvement.
*Spouse, civil partner or person with whom the policyholder lives with as a partner and at the same address.
**The five sessions limit is split between the policyholder/life assured and partner/spouse.
Benefits, exclusively for members
Your clients get greater value with our Mortgage and Rent Cover. Once your client has taken out a policy with us and agreed to be a member, they can get access to exclusive member benefits and additional support services.
We paid 96% of all protection claims
We offer a clear and fair approach to paying claims.
We’re proud to have paid 96%* of protection claims in 2021. A successful claim is as important to your client as it is to you – so your clients get vital financial help when they need it most and you feel confident in the provider you recommended.
* Includes claims already in payment in 2021 for Income Protection and Personal Sick Pay.
Dedicated support for you
With expert underwriting and online quote and apply, we’re committed to supporting the conversations you have with your clients.
Our underwriting measures an individual’s risk. But we keep it simple – we offer terms wherever possible and without unnecessary medical evidence.
Our quote and apply system – Fastway – makes it quicker to protect clients. It’s a fast and flexible application journey that gives you an immediate underwriting decision.
Let's talk
0800 678 18909am - 5pm Mon-Fri
TextDirect: first dial 18001. We will record or monitor calls for training and audit purposes.