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What does Mortgage Payment Protection Insurance do?

Mortgage Payment Protection Insurance will pay your monthly mortgage payment if you were off work due to accident, sickness or unemployment (Please do not forget: your home could be at risk if you fail to keep up the payments of mortgages and other loans secured against it.) Basically, Mortgage Payment Protection Insurance is designed to take away worry of whether you could afford to pay your mortgage repayments in these circumstances.

These policies always require you to have been off work for a minimum number of days before you can claim. This is known as the “qualifying period” and is typically 28 days or a month. With some policies the income will only start after the qualifying period but more generous policies will backdate payments to the date you started to be off work.

Once you have started to claim, the insurance company will continue to pay you until you are either back to work or for a maximum number of months (typically 12 months), whichever arrives soonest.

You have the option of insuring yourself for just unemployment or a combination of sickness and accident. However, we advise that, so long as you can afford it, you to insure yourself for all three eventualities. Better to be safe than sorry!

Request a Mortgage Payment Protection Quote

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Questions we get asked about Life Assurance

What is the difference between Life Assurance and Life Insurance? | What is a Whole of Life policy? | When might I want Life Assurance as opposed to Life Insurance? | What are the alternatives to Life Assurance? | How can I cash in my Life Assurance policy? | How can I buy a Life Assurance policy?

Questions we get asked about Life Insurance and other protection insurance

Why are life insurance prices so low on the Internet? | What is the difference between a Life Insurance Company and a Life Insurance Broker? | Can I get a Quote now online? | Is the quoted price the same as the price I get charged? | What is a “Rated” policy? | Can Life Insurance cover be arranged quickly? | What does Life Insurance do? | What is the difference between a Reviewable and a Guaranteed policy? | What are the most common optional extras available on life insurance policies? | What does “Term Insurance” mean? | What does “Level Term” insurance mean? | What does “Decreasing Term” insurance mean? | What does Mortgage Life Insurance do? | What does Mortgage Payment Protection Insurance do? | What does Family Income Benefit Insurance do? | What does Income Protection Insurance do? | What does Critical illness Insurance do? | What does Terminal Illness Insurance do? | How does age affect premiums? - Will my premiums increase over time? | Will my medical history influence my premium? | Do I need a medical? | Are smokers charged more? | Are there any extras to pay? | If I die, how is a claim made? | Is a UK Life Insurance policy valid if I work abroad?