What is Mortgage Payment Protection?
It is an insurance policy that will continue to pay your mortgage repayments should you find yourself out of work due to an accident, sickness or if you have been made redundant / unemployed through no fault of your own.
Why do I need mortgage payment protection?
Imagine not being able to work and having to continue meeting your financial obligations such as any loans, car finance, household bills, grocery shopping etc. With mortgage payment insurance you have one less financial commitment to worry about as your mortgage will continue to be paid whilst you are on the road to recover or searching for new employment.
Which providers do you compare?
Here at Insuranet, we are an independent insurance brokerage which means you can compare quotes from a predominantly ‘whole of the market’ panel of providers. Our small team of dedicated advisors offer a friendly and professional service and all work from our UK offices based just outside of Scarborough in North Yorkshire.
Below is a small example of the providers we use:
Is it the same as income protection insurance?
No. Mortgage Payment Protection will pay you a monthly income free from income tax for a maximum of one to two years dependent upon your individual policy.
Income Protection Insurance will pay you a monthly income free from income tax until you return to work or until you reach your desired retirement age (whichever happens first).
However, unlike mortgage payment protection, it will not cover you against unemployment or redundancy.
If you are looking for income protection insurance then please click the following link: Income Protection Insurance
Is it the same as ASU Cover (Accident, Sickness and Unemployment Insurance)?
Basically yes but the policy is directly linked to your mortgage for the specific purposes of maintaining your mortgage repayments should you be out of work as a result of a sickness, accident or being made redundant / unemployed.
What should I do now?
Simple, just click the button to fill in our quick, single page online quotation form which will instantly compare mortgage payment protection quotes online from a wide panel of providers.