MPPI policy covers the borrower’s mortgage payments for a period of up to two years if he/she is unable to work due to accident or sickness or has been made redundant. Sometimes it is called accident, sickness and unemployment insurance which is not entirely accurate. However, there is no life cover provided by the MPPI policy and usually allows more than one claim to be made provided you maintain the premiums.

Key benefits are

• Payable after deferred period of 28 days and for a maximum period of 2 years
• Benefit usually sufficient to cover the monthly mortgage payment and other assurance premiums
• All benefit payment are tax free

As with all insurance policies we recommend that you don’t just renew your cover at renewal date and contact us to see how much we can reduce your insurance premium by.

There are limits to the amount of cover you can arrange, usually 65% of your gross salary.  Pre-existing medical conditions may be excluded.