Compare our MPPI rates
Mortgage payment protection cover (MPPI) pays out if you can't keep up your mortgage payments because of redundancy, accident or illness.
MPPI policies are offered by mortgage lenders, banks and insurers and policyholders pay a premium each month for the insurance. The insurance will pay out a monthly benefit to cover mortgage payments once a claim is made.
MPPI policies have a benefit period which is the length of time you can claim monthly payments for you and you usually have to continue paying your premiums during this time.
The length of time policies pay out varies, but is typically a year or two years. If you want longer cover you may have to pay higher premiums. There is often an initial exclusion period of 30, 60 or even 90 days at the start of a claim during which time you won't get any money.
Top MPPI policies
| Provider | Availability | Product Type |
Maximum Monthly Benefit (£) |
Maximum Additional Cover | Cost* | Stress | Backache |
| CHEAPEST MPPI POLICIES - 30 DAY REFERRAL, RANKED ON COST FOR 35 YEAR OLD - 12 MONTH BENEFIT | |||||||
| British Insurance | direct | MPPI | £3,000 | 25% of mortgage & insurance costs | £2.55 | restricted | restricted |
| iprotect | direct | IPI | £1,850 | n/a | £2.42 | restricted | restricted |
| Cardiff Pinnacle | direct | MPPI | £2,000 | 25% of mortgage costs | £2.49 | restricted | restricted |
| Ant Insurance | direct | IPI | £1,000 | up to £2,000 limit | £2.50 | restricted | restricted |
| Web Money | direct | MPPI | £1,500 | 25% of mortgage costs | £3.40 | restricted | restricted |
| Web Money | direct | IPI | £1,500 | up to £1500 limit | £3.50 | restricted | restricted |
| Paymentshield | broker | MPPI | £1,500 | 25% of mortgage & insurance costs | £3.75 | restricted | restricted |
| Paymentcare | direct | MPPI | £1,500 | 25% of mortgage costs | £3.95 | restricted | restricted |
| Paymentshield | broker | MPPI | £1,500 | 25% of mortgage & insurance costs | £3.95 | restricted | restricted |
| Paymentshield | broker | MPPI | £1,500 | 25% of mortgage & insurance costs | £4.95 | restricted | restricted |
| Northern Bank (NI) | direct | MPPI | £1,750 | 25% of mortgage costs | £5.48 | yes | yes |
| Paymentcare | direct | IPI | £1,000 | n/a | £5.50 | restricted | restricted |
| *Monthly cost per £100 of cover: 12 month/35 years old | source: Defaqto | correct at 04.03.08 n/a = not applicable, IPI = Income Protection Insurance, MPPI = Mortgage Payment Protection Insurance |
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