Mortgage payment protection

We can provide you with cover to protect your mortgage payments if you have an accident or become ill and cannot work, or if you become unemployed, or if you want to have full cover for accidents, sickness and unemployment.

This type of policy can also be known as an Accident, Sickness and Unemployment (ASU) policy.

These policies have a qualification period, for each and every claim. You can select the length of this period, from 30, 60 or even more days. The longer the qualification period, the lower your monthly premiums. Just make sure that you have sufficient savings to cover your mortgage and household expenses during this time.

Once your qualification period has passed the insurer will pay out for the length of the benefit period, unless you return to work – in which case payments will cease. You can have your cover backdated to the date that you stopped working but, once again, this will be reflected in the cost of your premiums.

The benefit period is the length of time you can claim monthly payments for, and these vary with each of our providers. You can select the time period you want to be covered (generally one or two years) but the longer you want the cover for, the more expensive the premiums will be.

We are able to arrange cover for up to 50% of your monthly salary although most providers will cover your mortgage payment, with up to 33% extra for mortgage related bills, such as insurances.

The products detailed above are not investments and have no cash-in value at any time.

Please note, Payment Protection Insurance is optional.  There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income