Mortgage Protection Insurance

What is mortgage protection insurance?

Your mortgage is probably your biggest monthly outgoing. If you were unable to work due to illness or redundancy, you'd still need to make your repayments or you'd risk losing your home.

There are two main options for protecting yourself: you can either take out protection insurance specifically to cover your mortgage payments or get general income protection insurance (where the payments you would receive could be used for anything).

Mortgage payment protection insurance (or 'MPPI') allows you to continue paying off your mortgage if you are no longer receiving a secure income.

How does mortgage protection insurance work?

Generally speaking, there are three types of mortgage payment protection insurance: ‘unemployment only’, ‘accident and sickness only’, and ‘accident, sickness and unemployment’.

• Unemployment - covers you if you are made redundant

• Accident and sickness - covers you for long term illness or suffer a serious injury

• Accident, sickness and unemployment - cover for both unemployment and long term illness.

Speak to the team at Steel and Co. today to receive expert advice on your insurance needs based on your individual circumstances.

By speaking to our team you will receive;

• Help and advice if you are unsure about the protection you need.

• Make recommendations for protection to suit your personal circumstances

• Help in submitting an application

• A personal and friendly service throughout

 

Call 01502 446000 or email This email address is being protected from spambots. You need JavaScript enabled to view it. for a personal assessment

Receive a no obligation quote by calling 01502 446000 or by clicking the button below and completing our short application form.

Please complete your details below and someone from the Steel & Co. team will be in touch.