Mortgage Payment Protection Insurance
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Your Mortgage paid if you cannot work due to accident, sickness or unemployment |
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Top up your benefits by 25% to cover additional household expenses e.g. utility bills |
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Flexible Excess Periods allow you to choose when your benefits payments start |
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Free and confidential Jobcare Back to Work Service to help you return to work |
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Legal Helpline to help you with redundancy matters and tax information |
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Unemployment benefit also available for self employed |
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Up to 12 month benefit, simple on line application process, no medical required |
What is Mortgage Payment Protection Insurance?
"Mortgage Payment Protection Insurance or Mortgage Cover is a low cost substitute for savings to meet mortgage repayments and other household bills when a customer cannot work. It provides a financial umbrella and a 'helping hand' for anyone who is made redundant and does not have much money in the bank. Simply put, iprotect Mortgage Insurance gives peace of mind at a time when no job is safe." Dennis Haggerty i:protectinsurance.co.uk
What the experts say about i:protect value
To identify where i:protect offers market leading value for unemployment, accident and sickness cover for mortgage payment protection insurance we would refer customers to these three leading independent sources for advice and insurance price comparison:
- The FSA Money Made Clear independent consumer comparison website
- Money Supermarket comparison tables
- Money Saving Expert guide to Mortgage Payment Protection
For more information about price please click here or on the Price navigation tab above right.
Mortgage Cover three simple steps
1. Select the amount you want to be paid and what for
i:protect Mortgage Protection Insurance can be tailored to protect up to 75% of your gross monthly income (your pay before tax) or £1,500, whichever is the lesser amount. You decide whether you would like full accident, sickness and unemployment cover or just accident and sickness cover only. The benefits you select should enable you to pay your mortgage each month.
2. Select when you want to be paid
Flexible Excess periods mean you can choose when your benefit is paid from. So you can set your accident and sickness payments to kick in when your sick pay from work ceases and select your unemployment benefits to commence when your payment in lieu runs out. This level of flexibility means that your i:protect Mortgage Protection Insurance premiums can often be made cheaper by simply tailoring your benefit payments for when you need them most.
3. You can choose to top up your monthly benefits
You can take out additional cover to pay you up to 25% more than the amount you pay for your mortgage. Your total monthly benefit is still subject to the maximum of 75% of your gross monthly income or £1,500 per month whichever is the lesser amount. Use i:protect Mortgage Protection Insurance to cover your mortgage repayments and to help contribute toward:
- Home improvement and/or car loans
- Important insurance premiums
- Credit card repayments
- Utility bills
- Food bills
- Fuel costs and more...
Mortgage Payment Protection more benefits
Help when you need it most
i:protect Mortgage Payment Protection Insurance provides you a confidential and independent back to work advice service. This service is free (you only pay the cost of any telephone calls) and is provided by employment specialists Jobcare Services Limited. Advisors are available to offer you practical advice to help you find the right job their services include:
- CV preparation
- Letters of application
- Sourcing vacancies
- Interview techniques
- Self-employment advice
Help if you need advice regarding Redundancy issues these can include both Taxation and Legal matters, it is essential to know your rights and entitlement under your contract of employment as well as State Benefits. For more information about this free Redundancy Helpline please click here.
Self Employed?
Over 10% of i:protect policyholders are self employed and the Mortgage Insurance Cover benefits available are identical to company employees. The only difference being to support a claim for unemployment you will need to provide evidence that your business has ceased to trade as a direct result of the inability to pay your debts when they become due. Please Note: for people who are self employed this insurance cover has not been designed to pay benefit for any period of unemployment which is due to a temporary loss of work or a temporary lack of work.
Straightforward Cover
Unlike complex insurance products designed to cover you for long term accident and sickness up to age 65. An i:protect Mortgage Payment Protection policy is very quick and easy to apply for on-line. There is no need to complete long forms, detail your family medical history or be examined by a doctor. Your Mortgage Cover can run for as long as you need it and you know it will pay you for up to a full year in respect of any valid claim. This is usually more than enough time to recover from an accident or illness, or indeed find another job in the event of involuntary unemployment .
Great Value
Please take the opportunity to get a quote and see how little it would cost to secure your home in the event you lost you income and were unable to work due to accident sickness or unemployment.
Leading consumer website Money Saving Expert confirm in their MPPI Buyers Guide that;
- You can save £500 buying Mortgage Payment Protection Insurance from a specialist provider like ourselves
- i:protect offer the cheapest policy for applicants up to age 45
| There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk |
Find us on Money Advice Service website comparison tables that enable customers to check just how competitive i:protect premiums are. This link will enable you to download a simple illustrated guide to comparing prices on the Money Advice Service website - allow 10 seconds to complete the download.
Switch Cover to save money
Finally, if you are already insured elsewhere, but realise you could save a great deal of money by switching your Mortgage Payment Protection Insurance to i:protect to save money, please click here for full details of our Free to Switch initiative.
Need to know more about iprotect Mortgage Payment Protection?
- How much would it cost? Take 2 minutes to get a quick Mortgage Insurance quote - Go to the Top of this Page and click 'Get a Quote'.
- For more detail about i:protect Mortgage Insurance Cover please click on the green navigation buttons on the right hand side near the top of this page. Go to the Top of this Page.
- If you would like to know more about the reasons why people buy this insurance please see 'Reasons to buy MPPI from i:protect' below.
Reasons to buy MPPI from i:protect
Protect your mortgage. Pay only £17.30 per month for £1000 monthly benefit**...
i:protect insurance offers a range of products geared towards protecting various aspects of your lifestyle and most importantly your mortgage.
** Example Quote - Full Accident, Sickness and Unemployment cover. Monthly benefit of £1000.00 payable for up to 6 months for any valid claim. The premium is only £17.30 per month and is based on a 25 year old with 180 day deferment period. For 12 months benefit the premium is £10.90 per month. (Monthly cost for every £100 of monthly benefit £1.73)
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Use i:protect Mortgage Payment Protection Insurance to protect your mortgage payments. It is best understood as Mortgage Repayment Insurance. You can also cover up to 25% more than your mortgage repayments to help you pay your loans, credit card repayments, important insurance premiums, utility bills, food bills and more. Click for more information...
This type of insurance is an alternative for people who have been unable to accumulate savings. In the UK, the average family has saved less than the equivalent two months pay. Over a quarter of the population have virtually no savings at all (Yorkshire Building Society survey reported by Daily Mail 25 July 2008). Even in 2011, this has not changed fundamentally as the average family has seen an annual decline in their disposable income since 2009. (Deloitte survey May 2011).
Effectively more people than ever before find it hard to save and consequently for them and their families, Mortgage Protection Insurance can provide a low cost alternative to a potential financial 'meltdown' if they cannot work
Most people in this position would find it impossible to save the equivalent of 4 to 6 months salary which is considered the minimum to draw upon during periods of unemployment. Yet....
'the monthly premiums for i:protect Mortgage Payment Protection Insurance are less than a subscription to Sky TV'
This insurance to secure the financial wellbeing of the average family is very affordable given the alternative........ Click for more information about price
Mortgage Insurance Quote
People visiting the i:protectinsurance website have been using best mortgage protection and mortgage protection cover as their search criteria. We have found many new customers have commenced their enquiry for mortgage payment insurance when in fact they needed Income Protection rather than Mortgage Insurance Cover or just simply Mortgage Insurance.
Mortgage Insurance, Mortgage Payment Insurance compared with Unemployment Cover and Redundancy Insurance
Understand the differences:
A quote for mortgage payment cover (or mortgage repayment cover) is available on this page by simply clicking on the Quote Now button. However i:protect will not offer Redundancy Insurance alone - a full explanation is given on the Product Overview page. Nevertheless, if you wish, your mortgage insurance protection plan can still be focused upon unemployment cover. You can reduce your premium to an almost insignificant sum in respect of your accident and sickness cover cover within your mortgage repayment insurance.
The flexibility of the excess periods on iprotects Mortgage Payment Protection Policy - MPPI - enables this to be accomplished as follows. Apply the maximum 180 day excess to your accident and sickness cover and back to day one (ie nil excess) to your unemployment cover. This will reduce your premium for the non-unemployment elements of your cover to a minimum. Though, you should always tailor excess periods for all benefits to your personal circumstances.
Compare Mortgage Payment Protection (Mortgage Repayment Insurance or Mortgage Payment Insurance .... they all mean the same thing)
Instead of just searching for cheap mortgage payment protection you may want to compare mortgage payment protection insurance visiting individual UK websites or searching for mortgage repayment cover on the mortgage payment protection insurance comparison web sites. However before you do so, the iprotect Top Ten Tips is easy read and will help you to decide what is the best Mortgage Insurance is for you.
Cheap mortgage insurance is often just that and the best quote for you would not necessarily be the cheapest. For example, some policies do not offer redundancy or unemployment cover. If you are looking for help to choose please click on this link.
Mortgage Redundancy Cover (ie without the Accident & Sickness Insurance cover we include), can appear cheaper. However, please be aware that you will be missing out of a lot more protection. In fact some of i:protects biggest claims have been in respect of medical problems, rather than causes that were unemployment related. So if you use search terms such as Mortgage Repayment Cover and Mortgage Insurance Cover, it is likely that you will find i:protect to be one of the lowest cost providers of Mortgage Repayment Cover.
Please remain vigilent to the use of both Mortgage Redundancy Cover or Mortgage Redundancy Protection as search terms as these could result in you selecting mortgage repayment insurance from a provider offering cut down cover to give them a superficially attractive price. If you are looking for a Redundancy Insurance Policy, as we explain on our own product of this name, you really need cover in respect of all involuntary unemployment, not just job losses relating to redundancy. This is another reason why over 15% of our policyholders are self employed people. If they are buying Mortgage Repayment Insurance, it needs to be far more comprehensive than just covering redundancy related matters that are only useful for employees.
And finally; Sometimes people think iprotect should be spelt without the ':' this is purely for trade mark purposes, you will still find us just the same if you Google iprotect.
iprotect Mortgage Protection, more cover than just Redundancy Insurance or Mortgage Redundancy Cover
*Quote from £0.38p per month per £100 of monthly benefit relates to any applicant up to age 25 chosing Accident and Sickness benefits for a six month period and who decides to wait 180 days (the excess period) before they need their six months of benefit payments to start. Many people do this to save premium because they will receive sick pay from their employer during the excess period in any event and they buy this insurance as back up after their sick pay runs out.