mortgagepaymentinsurance

Mortgage Payment Insurance aims to provide you with a monthly benefit to help pay your mortgage payments if due to illness, accident or unemployment (depending on the option chosen), you are unable to work resulting in a loss of earnings.

The benefit payments move in line with a stabilised interest rate to help ensure that you are covered for any fluctuations in interest rates.

The benefit will continue to be paid until you no longer suffer a loss of earnings/reach age 69/are entitled to a state pension/you die/your mortgage is repaid - whichever is first. (This does not apply to the Unemployment Cover option). Also you won't have to pay any premiums while you are receiving benefit. (again this does not apply to the Unemployment cover option)

There will be a period when you are first unable to work for which this insurer does not pay benefit. This is known as the "deferred period". You can choose to defer between 4, 8, 13, 26 or 52 weeks depending on your personal circumstances. Generally speaking, the longer you have chosen to wait to claim, the lower your premium will be. You will need to consider any sick pay from your employer, other income protection insurance, other Accident Sickness or Unemployment polices, pension payments or savings that you may have.

Mortgage Payment Insurance policyholders have SmoothMove included in their cover at no extra cost.