Your mortgage is likely to be the largest and most important financial commitment you will make. With this in mind you need to be certain that you will have enough money to meet your repayments if you suffer an accident or sickness (disability), especially if your employer does not provide you with sick pay.

If you fall behind with your mortgage payments and you are unable to repay the debt, you could end up losing your home. That is why the Council of Mortgage Lenders are now encouraging all mortgage borrowers to consider the advantages of taking out independent mortgage payment protection insurance (MPPI). Policy providers do vary their deferred period, but this is typically 30 days after a claim is made.

Mortgage Payment Protection Insurance can help to protect mortgage payments for up to 12 - 24 months if you cannot work due to suffering a disability. You can also cover the cost of any life or buildings and contents insurance linked to your home.

Benefits of Accident & Sickness Cover / MPPI

• Disability cover for both employed and self-employed applicants.
• Helps borrowers pay their mortgage while recovering from accident or sickness.
• The monthly benefit is tax free
• The policy pays out for 12 - 24 months

Why buy Accident & Sickness Cover / MPPI?

When we are happy and healthy, paying out extra money to protect you against unwelcome and seemingly unlikely events can seem like a needless expense. So why bother?

Regardless of your relationship with the lender, if you fail to make a payment for that length of time, you will be in extremely serious danger of having your home repossessed. Unless you have sufficient savings to see you through any hard times, it is well worth considering the options that are available for helping you get through such circumstances.

Simply consider the following information:

• 90 families have their home repossessed each day, the majority due to the financial problems associated with accident and sickness.
• One in three people aged between 25-34 have experienced unemployment for a period in excess of one month.
• Every adult in Britain is five times more likely to suffer a serious disability than die before the age of 60.
• Today in Britain, 2,900 people will start claiming state disability benefits.
• 1,800,000 people in Britain are already disabled and have been unable to work for 12 months or more.

For further assistance, call us on 0800 612 7688.