UK Mortgage Payment Protection Insurance

Mortgage payment protection insurance (MPPI) is designed to help you to protect your mortgage payments and insurance premiums for up to 12 months should you be made redundant or are unable to work due to illness, injury or disability.

It makes sence to think about what could happen in the future good or bad. If you have borrowed money, taken out a mortgage then you should consider what would happen if say your partner had a fatal accident, you would still have the same amount of mortgage repayments to find each month as well as all the other bills to pay.
Mortgages are secured on your home and your home is at risk should you fail to make repayments. Should one member of the family be unable to work then what will happen if you cannot keep up repayments, it is for reasons like this and others that you should always think about how mortgage protection insurance could be of benefit to you. Mortgage Payment Protection gives you the time to get back on your feet and avoid any such drastic action being taken.

MPPI is usually offered to people between 18 and 65, who have been in continuous work, be it employed or self employed for the last 6 months. This is because many jobs have a 6 month probation period at the end of which an employee can be got rid of at no cost to the employer.
In order to be able to take out a mortgage payment protection policy you should not be aware of any impending redundancy.

If one person dies, it may be impossible for the bereaved to keep up the mortgage payments on the house. The disastrous out come could be that the bereaved could loose the house. You could avoid this situation by taking out a life insurance policy. Life insurance provides protection against death at any time, while Term Insurance covers you for a certain amount over a certain length of time.