Mortgage Redundancy
| Mortgage Payment Protection, also known (incorrectly) as Mortgage Protection is essentially redundancy protection insurance that also provides options to protect your home in the event of accident or illness or if you are unable to work through job loss. The best definition of a Mortgage Payment Protection policy is that it provides mortgage repaymentprotection. In other words if you lose your job or you are unable to work, this policy will take over the repayment of your mortgage until you find a job or you are able to work again, or for a period of up to one year. Unlike other more costly policies that will pay off your mortgage in the event of critical illness, this policy is made far more affordable because it protects the repayments only for the period of time when you need the support. Read the details of our Mortgage Payment Protection policy here if you are interested in switching cover for a cheaper quote or are a new borrower... Please note you must have your existing cover in place for 12 months and be claims free before you can switch Mortgage Payment Protection,If you have an existing mortgage is not easy to get cover. As we specialize in this area we can provide cover for you even if you never took the cover when the mortgage started. As unemployment increased from roughly 4% in 2007 to 13.5% in 2010, a lot of insurers left the market, however we can get cover for new borrowers and people that want to transfer cover for a better price and we can get the mortgage repayments protected for existing borrowers with no cover. The cost of cover is only a fraction of your income and is now considered a priority when there is a mortgage involved. Mortgage payment protection put simply protects your finances, your lifestyle and not just your home. Mortgage Payment ProtectionIf you are unsure as to whether you can get a Mortgage Repayment Protection Policy, we are only a phone call away and can help guide you through the key questions that will help determine the best choice for you and your family. However a simple guide to determine how much cover you should have is to examine your other mortgage related outgoings for example, Life cover and Home Insurance to ensure you have sufficient cover. You can cover up to 120% of the mortgage repayment amount to include these additional costs. Choose Your Mortgage Payment Protection Cover Wisely:The above guide to choosing the right cover for you is extremely rudimentary and getting it right is very important in order to adequately safeguard your family and/or home. This is why we do not sell this policy online, but instead we personally speak to each applicant to ensure that your choice is right for you. However, with a simple phone call, we could have you protected in only a few minutes, so call us today to gain the peace of mind of knowing your home and family are protected against the loss of income that could happen to anyone. If you would like to discuss any of the content contained on this site or to determine your options for taking Mortgage Payment Protection Insurance, please contact us or visit : www.mortgagepaymentprotection.ie* Unemployment , Accident and Sickness cover are limited to 12 months |
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