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MORTGAGE
PAYMENT
PROTECTION INSURANCE |
Protect your mortgage repayments
with Mortgage Protection Insurance or Mortgage payment
protection insurance (MPPI) in case you unfortunately suffer
unemployment, or inability to work through accident,
sickness or disability. Your home is at risk should
you fail to keep up with your mortgage repayments.
How
the policy works
- You choose the
amount of monthly cover you need.
- You choose the type
and level of cover you need.
- You pay your premium
as it falls due.
- We pay a fixed
monthly benefit for up to 12 months if you are
unemployed or disabled for longer than the waiting
period.
Why
you should choose this policy?
This policy will help you to protect your mortgage
payments and insurance premiums for up to 12 months if
you become unemployed or suffer a disability (accident
or sickness).
If you are taking out the policy to protect a new
mortgage or re-mortgage you will receive the first
three months cover completely FREE OF CHARGE.
If you are taking out the policy to protect an
existing mortgage, then subject to the unemployment
exclusion detailed below, you will receive the first
three months cover completely FREE OF CHARGE.
Unemployment Exclusion – if you are taking out the
policy to protect an existing mortgage, you will not
be covered against any unemployment, which occurs
during the free cover period. This exclusion will not
apply if you transfer your cover from another insurer;
provided your existing policy has been in force for at
least six months and you have not made a claim under
that policy.
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