When taking out a mortgage with a lending institution, it is a requirement that a mortgage protection policy be effected, to cover the loan in the event of death. In many cases people simply opt for the convenience of joining the lender's group mortgage protection scheme by just filling in the mortgage protection part of the loan application. However, under the Consumer Credit Act 1995, you are free to shop around for the best rates available to you for mortgage protection and are not compelled to effect a policy with your mortgage lender.