mortgage protection options?

Hi we have a mortgage which we've had for 7 years we have just changed the house and mortgage to a buy to let one, as we needed a bigger house and couldn't sell ours,

So we've had an offer and mortgage all done and sat morning we're back into the bank Lloyds tsb to discuss mortgage protection,

We use Sequence as that's who we did the first one through at £50 a month for us jointly,

Is this a standard rate? and should we be paying this amount again or is there any way to join the two or get a better deal?

Regards