For most of us our single biggest monthly outgoing is the mortgage payment, and because it's secured against your home it makes good sense to make sure that it's going to get paid whatever life throws at you.

We are able to arrange Mortgage Payment Protection Insurance (MPPI) on your behalf in order to take this worry away. The following gives an example of the cover available under MPPI ;

For single applications:

• If you're off work due to illness for more than 30 days a MPPI policy will pay the mortgage for every month you're off, or part of your repayment for every day you're off, for up to 12 months.
• If you're unemployed (including redundancy) for more than 30 days, a MPPI will pay the mortgage for up to 12 months.

For joint applications

• A MPPI policy will cover the monthly mortgage repayment but there is a split applied. This means that if Client one earns £30,000 and Client two earns £5,000 then if customer one is off work there will be a larger impact on the household income. Therefore using 100% you can split the difference as necessary (e.g. 70%-30%).

Read about :

• How the Mortgage Payment Premium Insurance works
• When can I make a claim under the policy?
• Eligibility for cover under the policy

Please note that these are general guidelines only and specific policies may vary slightly from company to company.

How Mortgage Payment Premium Insurance works

• You choose the amount of monthly cover you need to protect your mortgage payment and any related life assurance and/or household insurance premiums
• You choose the type of cover you need
• You choose how long you want to wait before you want to start to receive benefits under the policy
• You pay your premium as it falls due
• The provider pays a fixed monthly benefit for up to twelve months if you are unable to work due to unemployment or disability.

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When Can I Make a Claim Under the Policy?

Subject to the type of cover/policy you have selected, you will normally be able to make a claim under the policy if:

• You have lost your job due to circumstances entirely beyond your control and you are registered as being unemployed and available for work at the appropriate benefits office: or
• You are unable to work due to disability and you are under the regular care and attention of a doctor or consultant. Like every insurance policy there are certain circumstances when you will not be able to make a claim. Details of unemployment and disability exclusions will be detailed within your specific policy conditions.

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Eligibility for cover under the policy

You are eligible for cover under the policy if:

• You are at least 18 but under 65 years of age and you live and work in the United Kingdom, (including the Channel Islands or the Isle of Man);
• You are taking out the policy to protect your mortgage on the private residential property that you live; and
• You agree to keep the policy conditions.

You are not eligible for cover under the policy if:

• You are aware of any circumstances that may result in you becoming unemployed;
• Your work is of a casual temporary or seasonal nature;
• You work for a temporary employment agency;
• Unemployment is a regular feature of this particular job; or
• You are currently unable to work due to disability (this clause does not apply if on maternity leave).

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