What does mortgage payment protection do?

Mortgage payment protection insurance will pay your mortgage payments and associated costs for up to 24 months (although 12 month products are more common and usually lower cost) if you are unable to work due to an accident, sickness or if you become unemployed.

The maximum monthly benefit you are allowed to insure is 65% of your normal income up to £1,500.00. You can choose to receive benefit payments after either 30 or 60 days of continuous unemployment and benefit will cease after you have received 12 or 24 monthly payments.

If you are self-employed, the income paid under the insurance is normally calculated on the amount of your taxable income, or profits, during the 12 month period prior to you becoming unable to work.

Why should I choose this insurance?

• Low premiums which are often much lower than those charged by banks.
• No excess period - claims are paid back-to-day-one (other lower cost options are available).
• Up to 24 months tax free claims benefit.