Mortgage Protection Can Help To Save The Roof Over Your Head
Mortgage protection can help to save the roof over your head but it has to be given some consideration before you buy it, if you havent made sure the exclusions suit your circumstances then you could be left with a policy that isnt suitable and which you cannot claim against.
Mortgage payment protection insurance is a product that ensures that should you lose your income if you should be out of work after suffering from an accident, illness or if you should become unemployed by such as redundancy, it will be replaced.
The cover is purchased for a premium each month which is based on your age at the time of taking out the policy and the amount of your mortgage that you wish to insure each month, the premiums will then give you an income once you have unable to work for a pre-defined period of time which can be anything between the 31st and the 90th day after the event. Once the cover starts, then it would run for up to 12 months with the majority of policies although some policies cover you for up to 24 months so you have to read the small print of the policy at the time of taking it...
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