Mortgage Payment Protection Insurance, mortgage protection.#Mortgage #protection


i: protect insurance

Mortgage Payment Protection Insurance

Mortgage protection

Pays your mortgage and other bills for up to a year if you cannot work

Mortgage protection Mortgage protection

Mortgage Payment Protection Insurance is designed to cover your monthly mortgage repayments if you are unable to make them because you have an accident, become sick or are made unemployed. We offer separate flexible excess periods for accident and sickness and unemployment which means you can tailor the cover to suit your own individual circumstances. The longer you choose to delay receiving your benefit the less your premium will be.

  • Cover your monthly mortgage repayment up to £1,500 a month or 75% of your gross monthly income if less
  • Top up your benefit amount by up to 25% to cover additional household expenses
  • Choice of cover: Accident Sickness only or Accident, Sickness and Unemployment
  • Can choose separate Excess Periods for Accident Sickness and Unemployment
  • Benefit can be paid for up to 6 or 12 months
  • Carer cover is included as an additional benefit when Unemployment cover selected
  • Benefit paid direct to you in addition to any other benefits (eg Statutory Sick Pay)
  • On-line application only

For more information, select from the menu options on the left hand side of your screen.

There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

Ask us a question

Independent Advice

The Money Advice Service provides independent and unbiased information about insurance.

Reviews

I took out the Lifestyle insurance to protect me in case of redundancy/sickness etc. i:protect/Wessex have been amazing throughout the process of claiming more

Insurer

i:protectinsurance is underwritten in the United Kingdom by AmTrust International


Should you buy mortgage protection insurance, mortgage protection.#Mortgage #protection


Should you buy mortgage protection insurance?

After you buy a home, you’ll start getting letters in the mail imploring you to purchase mortgage protection insurance.

After all, how will your family afford to keep living in the house if the primary breadwinner dies unexpectedly, becomes seriously disabled or gets laid off? You need a policy that will pay off your loan in case such a tragedy occurs.

Mortgage protection insurance is just a specialized life insurance product.

In the event you die, become disabled and can’t work, or lose your job, the policy will pay your loan.

Death will trigger a full and near-immediate payoff; unemployment or disability will provide a monthly benefit to keep your payments current. But it might have a waiting period before benefits begin as well as a limited number of months for which benefits will be paid.

Some policies cover all three of these events; others only cover one or two.

The policy’s cost is based on the amount of your home loan, your age, your health and sometimes your occupation. Underwriting standards are less stringent than those for regular life and disability insurance, so this product can make sense for people who are difficult to insure.

NAA Life’s product, for example, does not require a medical exam — a common requirement for disability and life insurance policies.

This type of insurance pays your lender directly. Other life insurance policies pay your beneficiary (and disability policies pay you), which provides flexibility with how the proceeds can be used.

For example, if a breadwinner dies unexpectedly, paying off your home loan immediately is not necessarily the best strategy.

Holding on to the money and investing it at a higher rate of interest than the mortgage rate while continuing to pay the loan and get the tax deduction might be a better strategy.

Don’t confuse this product, which protects your family and is optional, with private mortgage insurance, which protects the lender and is mandatory on low-down-payment loans.

If you think this will serve you better than a traditional life or disability policy, make sure to examine a copy of the policy and understand its exclusions and limitations before you sign up.


What Is Mortgage Payment Protection Insurance – Pros – Cons, mortgage protection.#Mortgage #protection


What Is Mortgage Payment Protection Insurance Pros Cons

Mortgage protection

If you have a mortgage on your home, chances are you ve gotten plenty of offers for mortgage protection insurance. For example, shortly after I signed the papers for my new home, I started receiving mailers with information on mortgage protection insurance. It has now been more than a year, and I am still receiving these offers.

When you re inundated with these mailers, it s difficult to know what to take seriously and what to throw out as junk mail. Plus, why does anyone need mortgage protection insurance anyway? Answering these basic questions will help you the next time you see an offer in your mailbox.

What Is Mortgage Protection Insurance?

Generally speaking, mortgage protection insurance will cover some or all of your monthly mortgage bill in the event that you lose your job or become disabled, for various lengths of time. Most of these policies will also pay off your entire loan should you pass away. Policies can differ greatly from one agency to another, so you need to know what a given policy offers for the price.

Often, you ll have the option to purchase mortgage protection insurance from your lender. You don t always have to take them up on the offer, however, since you can also obtain mortgage protection through most insurance agencies and other independent sellers. Shop around because different agencies will have different coverage options and prices.

The cost of mortgage protection insurance varies from person to person, and as with life insurance, your rate is based on your age and health, as well as the current value of your home, the amount of your regular payment, and the current payoff amount of the mortgage. With policies that make monthly payments in the event of a disability, your cost will vary greatly based upon the industry in which you work. A roofer, for example, is at a higher risk of disability than an accountant.

If you purchase mortgage protection insurance that pays off your loan in the event of your death, your insurance company will send a check directly to your lender for the current payoff amount on your mortgage. In turn, your heirs won t have to deal with a home that has a mortgage attached to it. If your insurance covers disability or job loss, they may not cover your entire mortgage payment. Instead, they ll cover a certain amount that s specified in your contract.

Mortgage protection insurance is not the same thing as private mortgage insurance, which goes to the lender if you default on your mortgage, and doesn t have a specific benefit for you the borrower. Mortgage protection insurance, however, protects you as a borrower. Although many lenders offer the insurance, it s not built to protect them.

Benefits of Mortgage Protection Insurance

  1. Very high acceptance rates. There are very few reasons why an insurance provider would turn you down for mortgage protection insurance. While many people are counting on their life or disability insurance to cover these costs, some people have trouble getting life insurance because of their age or pre-existing medical conditions. If you re in this scenario, then mortgage protection insurance can be your best option to protect your family s standard of living.
  2. Peace of mind. As with any insurance policy, you never really know if you will ever use the insurance. But the safety net of insurance provides peace of mind. Some people go to work every day wondering what will happen to their home if they lose their job or become disabled. With the right mortgage protection insurance, you don t have to stress and you ll know that your payments will be made.

Drawbacks

  1. Maximum payment limitations. If you lose your job, your policy will not provide a sum of money equal to your normal monthly wages. Instead, how much you receive will be defined in your contract policy as a set amount or percentage. This may not seem entirely fair at first, but insurance companies place this limit to motivate a quick return to work.
  2. Balancing your budget. If you have a very low mortgage payment, mortgage protection insurance may not be worth the commitment for you. Conservative investing in an emergency fund can give you enough of a cushion to make your monthly payments during unemployment or a disability. Maintaining an emergency fund about 3-6 months salary is your way to make sure you can stay up to date on your payments without surrendering the monthly premium to an insurance company.
  3. Declining value over time. If you take out a $200,000 life insurance policy and keep paying your premiums, your heirs will receive $200,000, regardless of when you pass away. Mortgage protection insurance, however, only covers the payoff amount on your mortgage, which goes down as you keep paying it every month. That means if you ve owned your home for 20 years, and you originally had a payoff amount of $200,000, your payoff amount will have declined significantly by now. Despite that falling payoff amount, you ll still probably be paying the same premium on your mortgage protection insurance.

Alternatives to Mortgage Insurance

Many people use mortgage protection insurance in place of or along with traditional life insurance or disability insurance. If you can get approved with a good rate for either of these products, you can count on having that money in case of disability or death as long as you are able to maintain your premium payments.

Few agencies, however, will offer job-loss insurance, and some mortgage protection insurance plans will cover some or all of your mortgage payments if you lose your job. You can also focus on beefing up your emergency fund so you ll be able to cover several months worth of mortgage payments in case you become disabled or lose your job.

Final Word

If you have a risky job or health concerns that make life insurance or disability insurance difficult to obtain, you should look into your options in mortgage protection insurance policies. Make sure you take the time to shop around before making a final decision you need to know the details of the policy before you commit. Questions to ask include what the policy covers, the monthly cost, the payout you can expect, when the policy would pay out, and any other features that are important to you and your family.

Have you used mortgage protection insurance? How did it work out for you? If you don t carry mortgage protection insurance, what s your backup plan?


Mortgage Payment Protection Insurance, mortgage protection insurance.#Mortgage #protection #insurance


i: protect insurance

Mortgage Payment Protection Insurance

Mortgage protection insurance

Pays your mortgage and other bills for up to a year if you cannot work

Mortgage protection insurance Mortgage protection insurance

Mortgage Payment Protection Insurance is designed to cover your monthly mortgage repayments if you are unable to make them because you have an accident, become sick or are made unemployed. We offer separate flexible excess periods for accident and sickness and unemployment which means you can tailor the cover to suit your own individual circumstances. The longer you choose to delay receiving your benefit the less your premium will be.

  • Cover your monthly mortgage repayment up to £1,500 a month or 75% of your gross monthly income if less
  • Top up your benefit amount by up to 25% to cover additional household expenses
  • Choice of cover: Accident Sickness only or Accident, Sickness and Unemployment
  • Can choose separate Excess Periods for Accident Sickness and Unemployment
  • Benefit can be paid for up to 6 or 12 months
  • Carer cover is included as an additional benefit when Unemployment cover selected
  • Benefit paid direct to you in addition to any other benefits (eg Statutory Sick Pay)
  • On-line application only

For more information, select from the menu options on the left hand side of your screen.

There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

Ask us a question

Independent Advice

The Money Advice Service provides independent and unbiased information about insurance.

Reviews

I took out the Lifestyle insurance to protect me in case of redundancy/sickness etc. i:protect/Wessex have been amazing throughout the process of claiming more

Insurer

i:protectinsurance is underwritten in the United Kingdom by AmTrust International


Independent Mortgage Broker, Grange Mortgage – Protection Services, mortgage protection.#Mortgage #protection


Grange Mortgage and Protection Services | Northampton

Mortgage protection

onto the above links you are

leaving the Grange Mortgage

Protection Services Ltd

website. Please note that

neither Grange Mortgage Protection

Services Ltd or Pink Home

Loans Ltd are responsible

for the accuracy of the information

contained within the linked

  • Home
  • Mortgages
  • New Build
  • Help To Buy
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    • Please be aware that by clicking

      onto the above links you are

      leaving the Grange Mortgage

      Protection Services Ltd

      website. Please note that

      neither Grange Mortgage Protection

      Services Ltd or Pink Home

      Loans Ltd are responsible

      for the accuracy of the information

      contained within the linked

      • Mortgage protection
      • Mortgage protection

      Welcome to Grange Mortgage Protection Services An Independent Mortgage Broker based in Northampton

      Grange Mortgage Protection Services are an independent mortgage broker based in Northampton with over 12 years worth of experience providing mortgage advice to people looking for new homes, particularly in the new build sector.

      Whether you are buying a new home, refinancing your existing property or looking to arrange an insurance product, we have a professional group of mortgage advisors who can offer the professional expertise you need. Grange Mortgage Protection Services was established in 2005 and through sticking to our ethos of “To provide a service we would be happy to receive ourselves”, we have gone from strength to strength. This no nonsense approach, backed by great customer service has helped us win several industry awards which recognises our efforts in this sector. As a mortgage and insurance brokerage we will help you search for a mortgage and insurance product that best suits your needs.

      • The advice we provide is impartial and we are not tied to any one lender/insurer
      • We offer a confidential service
      • We have consultants available seven days a week to speak to
      • We offer a free initial consultation, with no obligation**
      • We offer advice on a range of insurance products that may be required as part of your transaction

      Call us now on 01604 877999 and speak to one of our specialists today or complete the contact us form.

      Also feel free to have a look at our most recent quarterly newsletter by clicking on the icon below:

      THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

      Grange Mortgage

      Mortgage Calculator

      This calculator provides a guide to monthly payments and does not guarantee eligibility for a mortgage. Please contact us for a personalised Mortgage Illustration.

      Mortgage protection

      Latest News

      Click here to view our most recent Newsletter, including current articles and industry news on the Housing and Mortgage Industry.

      Mortgage protection

      Our Blog

      Keep yourself up to date with everything that is happening at Grange Mortgage and Protection Services, by visiting our Blog and reading our latest articles.

      Mortgage protection

      Our e-Newsletter

      Stay up to date on our latest charity initiatives and topical news, including tips and advice from the team at Grange Mortgages.

      YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

      *By submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements. You voluntarily choose to provide personal details to us via the website. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 1998. You agree that such personal information may be used to provide you with the details of services and products in writing by email or by telephone.

      The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to customers based in the UK.

      **There may be a fee for mortgage advice. The precise amount will depend on your circumstances. We estimate that it will be £99 but it may range from £99 to 0.5% of the loan amount (so for a mortgage of £100,000 the fee would be a maximum of £500). £99 of this fee will be payable on application. In addition to this we will be paid commission by the lender. Full details of fees will be agreed with you at outset.

      Grange Mortgage Protection Services Ltd, registered in England at Unit 6 Basset Court, Grange Park, Northampton, NN4 5EZ (number 05342400). Grange Mortgage Protection Services Ltd is an appointed representative of Pink Home Loans, Pink Home loans is a trading style of Advance Mortgage Funding Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 305008) for mortgage and non-investment insurance advice. The Financial Conduct Authority does not regulate some forms of Buy to Let.


Mortgage Payment Protection Insurance, mortgage protection insurance.#Mortgage #protection #insurance


i: protect insurance

Mortgage Payment Protection Insurance

Mortgage protection insurance

Pays your mortgage and other bills for up to a year if you cannot work

Mortgage protection insurance Mortgage protection insurance

Mortgage Payment Protection Insurance is designed to cover your monthly mortgage repayments if you are unable to make them because you have an accident, become sick or are made unemployed. We offer separate flexible excess periods for accident and sickness and unemployment which means you can tailor the cover to suit your own individual circumstances. The longer you choose to delay receiving your benefit the less your premium will be.

  • Cover your monthly mortgage repayment up to £1,500 a month or 75% of your gross monthly income if less
  • Top up your benefit amount by up to 25% to cover additional household expenses
  • Choice of cover: Accident Sickness only or Accident, Sickness and Unemployment
  • Can choose separate Excess Periods for Accident Sickness and Unemployment
  • Benefit can be paid for up to 6 or 12 months
  • Carer cover is included as an additional benefit when Unemployment cover selected
  • Benefit paid direct to you in addition to any other benefits (eg Statutory Sick Pay)
  • On-line application only

For more information, select from the menu options on the left hand side of your screen.

There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

Ask us a question

Independent Advice

The Money Advice Service provides independent and unbiased information about insurance.

Reviews

I took out the Lifestyle insurance to protect me in case of redundancy/sickness etc. i:protect/Wessex have been amazing throughout the process of claiming more

Insurer

i:protectinsurance is underwritten in the United Kingdom by AmTrust International


Mortgage, Income & Loan Payment Protection Insurance Provider: Paymentcare UK, mortgage protection insurance.#Mortgage #protection #insurance


Homeowners Income Protection Insurance

What does Homeowners Income Protection Insurance do?

It can provide you with a proven means to help you keep paying your bills and maintain your lifestyle and any financial commitments by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness or Involuntary Unemployment. This can be a way of helping you avoid getting into debt should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Homeowners Income Protection is designed to help pay your financial commitments in the event of Accident, Sickness and Involuntary Unemployment.

Simply choose the type of cover you require:

ASU – Accident, Sickness Unemployment

AS – Accident Sickness only

U Unemployment only

Mortgage Payment Protection Insurance

  • Your mortgage paid if you can’t work
  • Premiums refunded during claims
  • Unemployment Exclusions waived* when you Switch
  • Great value Customer feedback

Discover More

What does Mortgage Payment Protection Insurance do?

It can provide you with a proven means to help you keep paying your mortgage and other associated household bills on the property that is your main residence by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness (Disability) or Involuntary Unemployment. This can be a way of helping you avoid getting into debt should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Mortgage Payment Protection Insurance (MPPI) is sometimes referred to as (ASU) Accident, Sickness (Disability) and Involuntary Unemployment and is designed to help pay your mortgage in the event of Accident, Sickness (Disability) and Involuntary Unemployment.

We believe our Mortgage Payment Protection Insurance policy offers UK homeowners complete peace of mind protection at the best possible price.

Simply choose the type of cover you require:

ASU – Accident, Sickness (Disability) Unemployment

AS – Accident Sickness (Disability) only

U Unemployment only

Loan Payment Protection Insurance

  • Unemployment Exclusions waived* when you Switch
  • Benefits paid even if you’re being paid Sick Pay/SSP
  • Premiums paid monthly
  • Monthly benefits of up to 1500

Discover More

What does Loan Payment Protection Insurance do?

It can provide you with a proven means to help you keep paying your monthly repayments on any personal loans you have by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness (Disability) or Involuntary Unemployment. This can be a way of helping you avoid getting into debt and falling behind with your monthly repayments should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Loan Payment Protection Insurance is sometimes referred to as (PPI) or (ASU) Accident, Sickness (Disability) and Involuntary Unemployment and is designed to help pay your mortgage in the event of Accident, Sickness (Disability) and Involuntary Unemployment.

PPI has had a bad press over the past few years because many banks and lenders generally mis-sold what was know a s a single premium policy which had to be paid for up front (often for several years at a time) to people who didn t want the cover or know that they had been charged for it! It really has been a case of the policy being hijacked by these unscrupulous lenders rather than it being a bad type of insurance per se.

Simply choose the type of cover you require:

ASU – Accident, Sickness (Disability) Unemployment

AS – Accident Sickness (Disability) only

U Unemployment only

Credit Card Payment Protection Insurance

  • Benefits paid even if you’re being paid Sick Pay/SSP
  • Premiums refunded during claims
  • Easy application process
  • Maximum 5000 coverage

Discover More

What does Credit Card Payment Protection Insurance do?

Credit Card Payment Protection Insurance (CCPPI) is also referred to as Payment Protection Insurance (PPI), and like PPI, it has been in the news headlines over the past few years, as the extortionate premiums charged by some credit card companies and store cards has been exposed as a complete rip off. With the worst offenders only paying 3% of a customer s outstanding balance in the event of having to claim due to Accident, Sickness (Disability) or Involuntary Unemployment.

Payment Protection Insurance specifically for UK credit cards has always only ever been available from the card providers themselves and that s why Paymentcare s Credit Card Payment Protection policy offers UK card holders a great alternative. Customers simply select an amount between 1000 and 5000 that best reflects the average outstanding balance across their credit card(s), you can cover as many as you like up to the policy limit as long as you do not exceed 50% of your monthly salary.

So what s Unique about Credit Card Protection?

UK s lowest cost stand alone credit card cover per 100 of outstanding balance at only 0.55. True protection when you need it most unlike every other credit card payment protection insurance you do not pay for the insurance during a claim period.

How Does it Work?

Choose the level of cover that s closest to your average monthly outstanding credit card balance(s) between 1000 and 5000.

Cover as many of your credit cards as you wish. The minimum cover amount is 1000 and the maximum is 5000 in total.

e.g. Assuming you have an average monthly outstanding balance of 5000 on your credit card(s) we pay 10% = 500 per month during a claim period, for up to a maximum of 10 months.

Want to switch your existing Policy to us?

It’s FREE & EASY to switch an existing policy to Paymentcare with NO PENALTIES.

Can I transfer cover from another Mortgage (MPPI) / Loan / Homeowners Income Protection Insurance provider?

Yes it’s easy to transfer cover, provided you are eligible for the policy and can meet a few simple conditions.

Great news. we also waive the initial exclusion period (this is the period of time where you cannot claim for involuntary unemployment) which applies at the start of a policy, provided that you meet these conditions:

  • There is no break in cover, between your existing policy and your new policy with us.
  • Your existing policy has been in force for at least six months.
  • The benefit of your new policy is the same as on your existing policy. You can increase the amount, but the initial exclusion period will apply to the increased amount you request.
  • The cover is on a like for like basis (the same level of cover).
  • You must be claim free under your existing policy.
  • Any pre-existing medical conditions that are excluded under your existing policy will also be excluded under your new policy.
  • We request that you send a copy of your existing certificate of insurance. THIS WILL BE REQUIRED IN THE EVENT OF ANY FUTURE CLAIM ON YOUR NEW POLICY.

Do NOT cancel your existing policy until you have received your new policy documents confirming cover with ourselves. Then you should inform your existing insurer.

Can I transfer cover from another Credit Card Protection Insurance provider?

We are not aware of any other stand alone credit card protection insurance provider! If you meet the eligibility criteria and you deem that the policy meets your demands and needs and you would like to apply for cover, instead of paying over the odds to your credit card company, then of course you may submit an application.


Mortgage Protection Insurance Offers Limited Benefits, mortgage protection.#Mortgage #protection


Mortgage protection insurance offers limited benefits

Mortgage protection

Mortgage protection

Mortgage protection

Mortgage protection

Mortgage protection

Mortgage protection

Mortgage protection insurance refers to a type of decreasing term life insurance policy where you pay a non-changing premium for the duration of your mortgage. If you die while the policy is in effect, the insurance pays off your mortgage. The lender can become the beneficiary of the policy if the borrower paying for the policy defaults on the loan.

Mortgage protection insurance cost factors

If the outstanding balance of your mortgage is high, your monthly premium will be high as well, and your premium will remain the same even as the balance decreases. This is because you are more likely to die as time goes on, increasing the likelihood that your life insurance company will have to pay on your policy.

Mortgage protection insurance can be purchased either at the same time you buy a home, or at any time in the future. As with other types of life insurance, your age, smoking status and value of your death benefit (the amount left on your mortgage) are taken into account when a life insurance company reviews your application and sets a price.

Mortgage insurance options

Mortgage protection insurance policies will only pay the balance of your mortgage at the time of your death (or maybe a little more if you paid ahead on your mortgage). If you decide this is appropriate for your situation, remember that a regular decreasing term life policy one not marketed as a “mortgage protection” policy can be used for the same purpose, and may also cost less. However, if you want to give your beneficiaries a choice of how to use the insurance money, consider level term life insurance instead.

Depending on your insurance company, joint mortgage protection insurance may be available that covers both you and your spouse and pays out when either of you die.

If you refinance, see if a new policy will get you a better premium. If you default on your mortgage, check with your life insurance company and see if they will extend your coverage.

Mortgage protection insurance and private mortgage insurance

Though they have similar names, these two types of insurance are not related. Private mortgage insurance (PMI) is typically required by the lender when you purchase a house and make a down payment of less than 20%. “Lenders take a risk when a buyer puts down less than 20%,” says Sam Belden, Vice President at Insurance.com. “Private Mortgage Insurance is a way for lenders to protect themselves if a buyer didn’t put much down and ends up in foreclosure.” In today’s difficult economic environment, few lenders will even grant a loan with less than 20% down, so PMI may not be offered in the future.

Although PMI makes it easier for you to get a loan and can help you get a house without waiting to build up savings, it pays the lender, not you. It does not reduce the amount of money you owe the lender. It is not a substitute for life insurance or mortgage protection insurance, which will pay off all or most of your mortgage in the event of your death.

Not what you were looking for? Have questions or feedback? Please let us know.


Mortgage, Income & Loan Payment Protection Insurance Provider: Paymentcare UK, mortgage protection.#Mortgage #protection


Homeowners Income Protection Insurance

What does Homeowners Income Protection Insurance do?

It can provide you with a proven means to help you keep paying your bills and maintain your lifestyle and any financial commitments by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness or Involuntary Unemployment. This can be a way of helping you avoid getting into debt should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Homeowners Income Protection is designed to help pay your financial commitments in the event of Accident, Sickness and Involuntary Unemployment.

Simply choose the type of cover you require:

ASU – Accident, Sickness Unemployment

AS – Accident Sickness only

U Unemployment only

Mortgage Payment Protection Insurance

  • Your mortgage paid if you can’t work
  • Premiums refunded during claims
  • Unemployment Exclusions waived* when you Switch
  • Great value Customer feedback

Discover More

What does Mortgage Payment Protection Insurance do?

It can provide you with a proven means to help you keep paying your mortgage and other associated household bills on the property that is your main residence by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness (Disability) or Involuntary Unemployment. This can be a way of helping you avoid getting into debt should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Mortgage Payment Protection Insurance (MPPI) is sometimes referred to as (ASU) Accident, Sickness (Disability) and Involuntary Unemployment and is designed to help pay your mortgage in the event of Accident, Sickness (Disability) and Involuntary Unemployment.

We believe our Mortgage Payment Protection Insurance policy offers UK homeowners complete peace of mind protection at the best possible price.

Simply choose the type of cover you require:

ASU – Accident, Sickness (Disability) Unemployment

AS – Accident Sickness (Disability) only

U Unemployment only

Loan Payment Protection Insurance

  • Unemployment Exclusions waived* when you Switch
  • Benefits paid even if you’re being paid Sick Pay/SSP
  • Premiums paid monthly
  • Monthly benefits of up to 1500

Discover More

What does Loan Payment Protection Insurance do?

It can provide you with a proven means to help you keep paying your monthly repayments on any personal loans you have by providing you with a set monthly benefit in the event that you are unable to work due to Accident, Sickness (Disability) or Involuntary Unemployment. This can be a way of helping you avoid getting into debt and falling behind with your monthly repayments should the unthinkable happen to you.

The monthly benefit payments from the policy are paid directly to you and are capped as a percentage of your salary with an upper limit.

Loan Payment Protection Insurance is sometimes referred to as (PPI) or (ASU) Accident, Sickness (Disability) and Involuntary Unemployment and is designed to help pay your mortgage in the event of Accident, Sickness (Disability) and Involuntary Unemployment.

PPI has had a bad press over the past few years because many banks and lenders generally mis-sold what was know a s a single premium policy which had to be paid for up front (often for several years at a time) to people who didn t want the cover or know that they had been charged for it! It really has been a case of the policy being hijacked by these unscrupulous lenders rather than it being a bad type of insurance per se.

Simply choose the type of cover you require:

ASU – Accident, Sickness (Disability) Unemployment

AS – Accident Sickness (Disability) only

U Unemployment only

Credit Card Payment Protection Insurance

  • Benefits paid even if you’re being paid Sick Pay/SSP
  • Premiums refunded during claims
  • Easy application process
  • Maximum 5000 coverage

Discover More

What does Credit Card Payment Protection Insurance do?

Credit Card Payment Protection Insurance (CCPPI) is also referred to as Payment Protection Insurance (PPI), and like PPI, it has been in the news headlines over the past few years, as the extortionate premiums charged by some credit card companies and store cards has been exposed as a complete rip off. With the worst offenders only paying 3% of a customer s outstanding balance in the event of having to claim due to Accident, Sickness (Disability) or Involuntary Unemployment.

Payment Protection Insurance specifically for UK credit cards has always only ever been available from the card providers themselves and that s why Paymentcare s Credit Card Payment Protection policy offers UK card holders a great alternative. Customers simply select an amount between 1000 and 5000 that best reflects the average outstanding balance across their credit card(s), you can cover as many as you like up to the policy limit as long as you do not exceed 50% of your monthly salary.

So what s Unique about Credit Card Protection?

UK s lowest cost stand alone credit card cover per 100 of outstanding balance at only 0.55. True protection when you need it most unlike every other credit card payment protection insurance you do not pay for the insurance during a claim period.

How Does it Work?

Choose the level of cover that s closest to your average monthly outstanding credit card balance(s) between 1000 and 5000.

Cover as many of your credit cards as you wish. The minimum cover amount is 1000 and the maximum is 5000 in total.

e.g. Assuming you have an average monthly outstanding balance of 5000 on your credit card(s) we pay 10% = 500 per month during a claim period, for up to a maximum of 10 months.

Want to switch your existing Policy to us?

It’s FREE & EASY to switch an existing policy to Paymentcare with NO PENALTIES.

Can I transfer cover from another Mortgage (MPPI) / Loan / Homeowners Income Protection Insurance provider?

Yes it’s easy to transfer cover, provided you are eligible for the policy and can meet a few simple conditions.

Great news. we also waive the initial exclusion period (this is the period of time where you cannot claim for involuntary unemployment) which applies at the start of a policy, provided that you meet these conditions:

  • There is no break in cover, between your existing policy and your new policy with us.
  • Your existing policy has been in force for at least six months.
  • The benefit of your new policy is the same as on your existing policy. You can increase the amount, but the initial exclusion period will apply to the increased amount you request.
  • The cover is on a like for like basis (the same level of cover).
  • You must be claim free under your existing policy.
  • Any pre-existing medical conditions that are excluded under your existing policy will also be excluded under your new policy.
  • We request that you send a copy of your existing certificate of insurance. THIS WILL BE REQUIRED IN THE EVENT OF ANY FUTURE CLAIM ON YOUR NEW POLICY.

Do NOT cancel your existing policy until you have received your new policy documents confirming cover with ourselves. Then you should inform your existing insurer.

Can I transfer cover from another Credit Card Protection Insurance provider?

We are not aware of any other stand alone credit card protection insurance provider! If you meet the eligibility criteria and you deem that the policy meets your demands and needs and you would like to apply for cover, instead of paying over the odds to your credit card company, then of course you may submit an application.


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Mortgage Protection Insurance

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If you want to keep your mortgage, loan or monthly income safe should you ever be incapable of working, here at MoneySupermarket.com you can get a

FREE no obligation Mortgage Payment Protection Quote – with just a few simple clicks!

An introduction to mortgage payment protection insurance

Mortgage Payment Protection Insurance (MPPI) is designed to cover the cost of your mortgage payments in the event that an accident, sickness or unemployment stops you from working.

Most MPPI policies will only pay out for a maximum of a year, so if you do have sufficient savings in place to tide your over for this length of time, then you may not require cover.

Check how much your employer is likely to pay you in the event that you get made redundant. If you have worked at your company for several years, the chances are you may get a decent payout, which would mean you might be paying for the unemployment element of your mortgage protection policy unnecessarily. It is also worth noting that although statutory sick pay doesn’t usually affect short term IP, anything you receive over above statutory (from your employer for example) can affect the benefit payable under the policy. If this is the case, you may be better off going for accident and sickness MPPI cover only. State benefits don’t usually affect this unless they take you over the maximum claim limits, but this is worth checking before taking out a policy.

As a general rule, mortgage protection policies will start paying out either 31 days or 60 days after you are unable to work. However, many policies are ‘back to day one’ plans. This means that the benefit you receive is backdated to the date you were first out of work.

Monthly payments are capped, usually at £1,500 or £2,000 a month or at a percentage of your income. So if you have a very large mortgage, you will need to think about how you will cover any surplus.

Remember that policies won’t usually allow claims related to unemployment within the first three or six months so make sure you have savings in place for this period.

Of course, if you would like to read more about MPPI, our mortgage protection insurance guide will help you understand the product better.

We want to show you as many mortgage protection insurers as possible, so you can choose the right one for you. Not all mortgage protection insurers want to be included on comparison websites, so we can’t promise to include every single company. We list your quotes from the cheapest to the most expensive. You can find out more about how we work here.

Important Information

Finding a cheap mortgage protection insurance policy is not that difficult. However getting the correct coverage for your individual needs can be quite tricky. Read our mortgage protection insurance guide to make sure your new mortgage protection insurance policy ticks all the right boxes.