How Much Will It Cost?

You can have Mortgage Payment Protection Insurance for either unemployment alone, sickness and accident, or all three. The costs of the policies we sell are as follows: -

  • Cover for disability (that’s sickness or accident) £2.45 per £100 of monthly mortgage payment
  • Cover for just unemployment £2.45 per £100 of monthly mortgage payment
  • Cover for disability and unemployment (both) £3.95 per £100 of monthly mortgage payment
  • AND the first three months cover for your new policy is totally FREE OF CHARGE
  • Over the last five years 28 % of people have been off work for more than a month due to illness or accident.

Hot Topics

For how long will the policy continue to pay your mortgage?
The Mortgage Payment Protection Insurance will pay your mortgage for up to 12 months or up to when you return to work, whichever is the sooner.
Are There Any Situations That Would Result In My Claim Being Refused?
Yes there are the usual exclusions. These are summarised below but you should carefully read the paperwork that comes with your insurance documents.
Is there any investment value in your policy?
No. Once the policy has come to the end of its term the policy simply ends. It’s a bit like house insurance!
Can you keep your Life policy on if you pay your mortgage off early?
As far as the insurance company is concerned, until your policy reaches the end of its term and you continue to pay the premiums, you remain insured.
How long should you insure for?
For mortgage protection purposes you should also insure yourself for the same number of years that are remaining on your mortgage. The initial sum insured should always equal the capital sum outstanding on your mortgage.
One in three people aged between 25 and 34 have experienced unemployment for more than a month.

Under this policy the insurance company will continue to pay your mortgage for up to 12 months under any single claim. You have to be off work for 30 days before you can make a claim but the claim is then backdated to the first day you were off.

Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -