When taking on a large commitment it is essential to ensure that in the event of an unfortunate change of circumstances those payments can be maintained.
No one knows what the future will hold and if you become unemployed or need to look after a partner, spouse, parent or child full time or you were disabled due to an accident or sickness you may not be able to meet your Mortgage Repayments. Over 70% of people will not qualify for Income Support / ESA and those who do will receive a small percentage of their normal income.
Mortgage payment protection insurance provides protection in the event of Hospitalisation, Accident & Sickness (Disability) and Involuntary Unemployment.
Payment protection insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk
At The Mortgage Store we will recommend suitable protection tailored to your specific needs from a range of the UK’s leading Insurance Companies.