How much will Mortgage Payment Protection Insurance cost?

Mortgage Payment Protection Insurance is available for unemployment alone, sickness and accident alone, or all three together. The cost of these types of policy vary but the lowest prices we have found are as follows: -

* Disability (sickness or accident) - £2.45 per £100 of monthly mortgage payment
* Unemployment - £2.45 per £100 of monthly mortgage payment
* Disability and unemployment (combined) - £3.95 per £100 of monthly mortgage payment
* AND you can get the first three months of the policy completely FREE OF CHARGE

Under most policies your mortgage repayments will be covered for up to 12 months under any single claim although you wouldn’t be able to make a claim until you had been off work for 30 days. Then claim should be backdated to the first day you were off.

Remember:
The statistics support the need for Mortgage Payment Protection Insurance.

* Over the last five years 28 % of people have been off work for a month or more because of illness or accident.
* One in three people aged 25 - 34 have been unemployed for more than a month at some point.