Mortgage Payment Protection Insurance

Undoubtedly one of the biggest financial commitments you will make in your life is a mortgage. So, when it comes to Mortgage Payment Protection Insurance why is it so many people overlook its importance?

Mortgage Payment Protection Insurance could make a big difference in the unfortunate event of you being made unemployed, or not being able to work as a result of accident or sickness, as it could help you to meet your mortgage and other household commitments.

Mortgage Payment Protection Insurance (MPPI):- The facts

• Early 1.56 million people were unemployed in the 3 months to May 2007¹


• Nearly two million people of working age will be off work for at least six months at any one time due to sickness and disability ²


• There are restrictions on the help you can claim from the state in relation to mortgage repayments which may well leave you with a shortfall each month²

So don't go without MPPI.

• ¹ Source: Office for National Statistics, Employment, 18 July 2007
• ² Source: Office for National Statistics, Economic inactivity highlights, March 2006

MPPI – providing peace of mind in these unsteady times.

One of the largest financial commitments you will make during your life will probably be your mortgage. During these unsettling times your ability to meet your mortgage and other essential household bills can be a major worry.

 

Ensuring that you have enough money to be able to pay these expenses if your were unable to work due to unemployment, accident or sickness could provide you with some peace of mind.

 

Cover can be personalised to your own needs and the cost restricted if necessary. Mortgage Protection has the following Key Features

• Cover can be arranged to protect the amount of your mortgage repayment and an additional 33% should you wish to cover extra mortgage related expenses.


• Cover can be arranged for up to £3,000 per month or 75% of your income


• Homebuy schemes, and Shared Ownership schemes can be covered.


• A claim payment will normally begin when you have be unemployed, or unable to work due to accident or sickness for 30 days. However your premium can be reduced if this is altered to 60 or 180 days.

Payments will normally be made for 12 months, or until you return to work, whichever is earlier.

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