Mortgage Payment Protection
Losing your 'Income' could also lose your home, and everything else.
What is Mortgage Payment Protection?
If you lose your job or are unable to work through Accident or Sickness, Mortgage Payment Protection will cover the cost of your mortgage repayments or your rent for 1-2 years or until you return back to work (whichever is the soonest). This also gives you or your family a piece of mind knowing you're protected.
You don't have to be an employee to have this cover. These are also designed for the Self-Employed or Contract Workers. You can choose your own amount to protect each month (subject to limits) and knowingly you will be protected should you be unable to work due to an Accident, Sickness, or Unemployment.
If you owned an ATM, and it Guaranteed to pay you. Would you insure it?
'That Cash Machine, is you'
Mortgage Payment Protection offers peace of mind and protection for your home should the unexpected happen. With this service, you can let someone else pay for your mortgage or rent so you don't have to worry about any financial burden.
Insurers will also let customers add a further 25% on top of their mortgage payments to cover their monthly basic essentials, or you can protect more. Your adviser will explain your options. based on your circumstances.
You can also set a deferred period when to be paid. This is good if you have enough savings, if you don't, that's ok because you can select to be paid monthly rather than waiting for a period of time. Reducing the deferred period does increase the price, and premium reduces with longer deferred periods. You choose.
