Mortgage payment protection is not as simple as it may seem, your bank or mortgage lender will have probably offered you a product, maybe they called it accident, sickness and unemployment cover. Whatver it is called it may not be the best cover for you.
Mortgage payment protection offers your insurance to allow your mortgage and other associated costs to be paid if you have an accident, become ill or lose your job.
The insurance will cover you for either 12 or 24 months so is limited but can help you to get back on your feet and stop the debts mounting and the possiblity of house repossession.
Mortgage payment protection sections can be bought on their own, you can have either, just accident, just sickness, or just unemployment cover and many different brokers will offer these options. Although this may make your policy cheaper you can leave yourself open to problems in the event of a claim.
What are the general restrictions of mortgage payment protection?
Most mortgage protection policies are not available to the self employed and many people have generous cover from their employers for sick pay. If you are already in poor health or aware of health problems cover under a mortgage payment protection scheme is not right for you.
Why not check our rates for mortgage payment protection today and get a quote online.
