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.

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What is Mortgage Payment Protection Insurance?
Mortgage Payment Protection Insurance pays your monthly mortgage repayment if you were off work due to sickness, accident, or unemployment. (Don’t forget that your home is at risk if you fail to keep up the repayment of loans secured against it.)
Will the Mortgage Payment Protection Insurance pay your interest and capital?
You decide how much you want the insurance to pay out each month if you’re off work. So make sure your cover is sufficient to meet your full monthly repayment to your mortgage provider.
Should you insure for accident and sickness or accident, sickness and unemployment?
The Mortgage Payment Protection policies we offer gives you the option of insuring yourself for:
What is Mortgage Life Insurance?
Mortgage Life Insurance is sometimes called Mortgage Protection Insurance.
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: -