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Mortgage Protection 
There are two specialist types of insurance policy that can provide protection for your mortgage payments.
1) Income Protection. This is designed to help if you are either made redundant or suffer from an accident or unexpected illness. These policies will pay out a regular amount for a set period, so you should have enough money coming in to cover your essential mortgage and other payments. The idea is that this will carry on for a long enough period of time sufficient for you to recover from the problem and get back to fully paid employment. This type of policy is often referred to as Mortgage Payment Protection Insurance (MPPI).
2) Mortgage Insurance. This insurance policy is designed to repay the full amount of your mortgage in the event of your sudden death or severe critical illness. Especially if you have a family depending on you, this kind of policy will give you peace of mind that if the worst should happen, the mortgage on your home will be repaid so that your dependents will not have to worry about any future mortgage payments. This is a type of life insurance, designed specifically for mortgage cover.
There are many insurance products of this kind available and the costs can vary considerably. We recommend that you seek the advice of a specialist broker who can ensure that you get the right cover at the most cost effective price to suit your personal circumstances.
NOTICE: A mortgage is a loan that is secured on your home and you also need to think carefully before securing any other debts against your home. Your home could be taken away by the lender and sold if you do not keep up the repayments on the mortgage or any other debt secured on it -if you are in any doubt, seek independent professional advice. These notes are offered as a general guide only and do not constitute mortgage or insurance advice.
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