Sadly not many people do truly understand mortgage payment protection insurance (MPPI), yet each year many buy it alongside their mortgage thinking that it will provide them with the income needed to keep the roof over their head if they should come out of work. While in most cases it can do this there are certain exclusions which mean it you could be ineligible to claim. Unless you know about these and have checked them in the small print to make sure your circumstances would permit you to make a claim, then your cover could be nothing more than a waste of money.
Mortgage payment protection insurance can work but it is essential that you understand what you are buying and what a policy can and cannot do. Typical reasons which could mean you would be ineligible to claim include if you are only working part time, are of retirement age, self-employed or if you have a pre-existing medical condition at the time of taking out the policy. Policies differ and while these are the most common you can find others listed in the small print of the policy so it is essential to read them from top to bottom.
If a policy is suited to your circumstances then it would begin to give...
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