A mortgage payment protection insurance policy can give peace of mind
- 16TH SEPTEMBER 2007
A mortgage payment protection insurance policy can give you peace of mind providing that you have checked out the small print and exclusions within a policy and have made sure that a policy would be suitable for your needs.
A mortgage payment protection insurance policy would pay out a tax free income each month to replace your lost one if you should come out of work due to an accident, sickness or unemployment. Cover can be taken to guard against all three, accident and sickness only or unemployment only and would start to pay out after you have been out of work usually for 30 days or more. The majority of policies will continue to provide you with an income for up to 12 months but some providers do offer 24 month policies.
When looking for your mortgage payment protection insurance policy it is essential that you realise buying the cover alongside your mortgage is one of the dearest ways of taking out the cover. Shopping around with standalone providers is the best way to not only get the cheapest quotes for the cover but also to get the information that you need in order to decide if a policy would suit your circumstances.
Some of the general exclusions include being self-employed, only in part time work, retired or suffering from a pre-existing medical condition. Exclusions do however vary from provider to provider and this is another reason why you should shop around for you cover. An ethical standalone provider will ensure that you get all the information you need before you purchase your cover and British Insurance are one such provider who lays out the information in plain English.
Headed by Simon Burgess who is always for the consumers rights, British Insurance have earned themselves many best buy awards and in particular when it comes to their mortgage payment protection insurance policy. Simon is confident that British Insurance not only offers a top quality product but also the cheapest premiums but does urge the consumer to shop around and get several quotes.
