Hi all,
I've recently been thinking about getting some
mortgage
payment protection insurance due to worsening recession (as far as I know my job is safe
but you never know) to protect my home and my family if I am made made
redundant. Now for the problem, I have a done a fair amount of research on the topic and it would seem british insurance, CPP direct & protection on line are the best accident sickness and unemployment (ASU) insurers for MPPI but I found this website:
www.mortgage-paymentprotection.com
which has some very useful tips on the types of cover supplied by MPPI but at the same time they also introduce income payment protection as a good alternative (as does a channel 4 artical on the website) which can be apparently extended to include mortgages (but this seems unnecessary since the payment is tax free and designed to support your lifestyle which I guess would include your mortgage). Now I'm a little confused as to which I should go for
. Does anybody have any real world experience of either? Could you confirm weather income payment protection needs to be extended to cover a mortgage? In addition to this there has been talk of increasing premiums associated with mortgage payment protection due to increase in the number of claims. Does anybody know if this also impacts income payment protection? The website I found has a nice little comparison table on it and I'm tempted to just go through them and get some quotes (its free afterall
) ....any advice?
Thanks in advance for any help or advice that can be offered.
Regards,
J.
mortgage Payment Protection (MPPI)?
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