Unemployment Cover aims to pay a regular tax-free income to cover the cost of your mortgage payments if you become involuntarily unemployed.

It has been a long time since anyone could say they have a 'job for life'. A number of people today have experienced redundancy - either personally or through family and friends. It's a demoralising situation at anytime, but isn't made any easier by the pressure of relentless bills, and probably the most worrying of all, the mortgage repayments.

Unemployment Cover can help ease the financial pressure and help you concentrate on the task of getting back to work. Unemployment Cover can cover payments to your lender and other insured payments, for example for buildings and contents insurance.

You can make monthly or yearly payments for the plan term you've chosen. If you stop your payments in to the plan your cover will end and you'll receive nothing back. The plan has no cash-in value at any time. If the Government changes the rate of Insurance Premium Tax your payment will also change.

Benefits of Unemployment Cover

• Helps homeowners avoid missing payments on their mortgage, therefore not being repossessed by the lender
• Monthly benefit paid to policyholders in the event of being made redundant
• Tax free benefit
• Can pay a benefit each month for up to 24 months

Why have Unemployment Cover?

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 unemployment.
• One in three people aged between 25-34 have experienced unemployment for a period in excess of one month.
• Almost one in five working age households (3.4 million) has someone who is currently unemployed.
• Today in Britain there are almost 1,000,000 persons who are registered as unemployed.
• Every day 500 people in the UK become unemployed. 60% of unemployed men and 45% of unemployed women will be out of work for six months or more.

For further assistance, call us on 0800 612 7688.