Mortgage Protection

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Accident, Sickness and Unemployment Cover

 

Also called Mortgage Payment Protection Insurance.  This is designed to meet mortgage payments and other household costs in the event of involuntary job loss or inability to work due to accident or sickness.

There is a waiting period on these policies usually of between one and three months.  Claims are normally paid between one and two years.  To qualify for a claim under these policies, the policy holder must have held a permanent contract for a minimum of three months and even so, waiting periods apply before a claim can be made. Claims for pre-existing conditions are not covered and the policy holder must not be under threat of redundancy  .The unemployment cover is generally unsuitable for self employed people, as they will have extreme difficulty when making a claim.  However, the Accident and Sickness elements of the Policy are available at a reduced cost.

If you have any queries or would like more information, please don’t hesitate to contact us.