If you stopped getting an income due to being out of work, could you afford to pay your mortgage? If your answer is no, you should consider a mortgage protection policy.
Mortgage payment protection insurance (MPPI) will pay you a monthly income for a set term if you cannot work, e.g. 2 years.
Most insurers let you choose a payout that matches your monthly mortgage repayments. Some insurers also let you add cover for your bills, for example an extra 25%.
What cover can you choose?
When you apply for mortgage protection, you can choose from three types of cover:
Accident and sickness
Accident, sickness and unemployment
You can get an income paid to you for a set term, with most policies offering a payout term of up to two years.
If you would like a policy that pays out an income for a longer term, get quotes for a standard income protection policy instead.
How much does it cost?
The price of income protection is affected by:
Your health, including any pre-existing medical conditions
Your type of job
The payout you choose
When you apply for a policy, make sure you give correct information about yourself. If you do not, your insurer may not pay out when you make a claim.
Complete our online quote form to find the cheapest income protection policy.