Keeping the roof over your head when the world falls in
If I lost my job due to Accident, Sickness or Unemployment would I still require an income to pay my Mortgage and bills until I find a new job?
If it’s a yes, you need advice from an expert who can give you Independent advice from the UK’s leading Insurance companies.
We can give advice over the phone, remote consultation via internet or face to face whichever is easier for you.
Get cover for your mortgage and up to 25% of related expenses
Mortgage insurance is designed to cover your mortgage and up to 25% of related expenses such as your life insurance or home insurance.
Cover can normally be arranged as in one of three ways:
- Unemployment only
- Accident and Sickness only
- Unemployment, Accident and Sickness insurance.
With this Mortgage Payment Protection cover you can choose to select unemployment only cover, which will give protection in case of redundancy or other involuntary unemployment, as well as having to quit your job to become a full time carer for a member of your immediate family.
You can also select an Accident and Sickness policy which covers you not being able to work due an accident or illness. Most customers choose both Unemployment cover and Accident and Sickness cover if affordable.
Choose the excess period that suits you
How long do you want to wait before any benefit from insurance would be payable?
0, 30, 60, 90 or 180 days (these are the excess periods you can typically choose from)
The excess period is the period after which eligibility for the monthly benefit will start if your claim is accepted. An example would be a 30 day excess period means you have to be off work for 30 days before you are eligible, and wait a further 30 days before you receive your first payment.
Zero excess is also called ‘Back to day one’; although you have to wait 30 days before you are eligible you will then be paid back to the first day you were off work.
You could be eligible for benefit of up to £2,000 or 50% of your gross income, whichever is less
The benefit is what covers your mortgage payments. Up to 25% of the benefit can also be used to cover related expenses such as home and life insurance.
Make sure that your mortgage cover does not exceed your mortgage commitments, as the over-insured sum would not be paid out at point of claim so you would be paying this extra amount for nothing. We can help you with this.
If you do wish to insure other outgoings you could consider income protection cover which will allow you to insure any outgoings.
Cover period: maximum 24 months
This is a short term payment protection insurance, and payments are usually for a period of 12 months.
Do you qualify for this cover?
You must be between 18 and 63 years old
To get cover under this insurance, you have to be over 18 and under 63. If you are close to 65, cover will automatically terminate when you reach the age of 65 and that any benefit payable under the policy will usually terminate when you reach 65