Income Protection Mortgage Insurance

Best Income Protection Mortgage Insurance with a fast payout

Get low-cost high-quality Income Protection Mortgage Insurance from Insured Defense

  • Cover from £25 pm
  • Insured Defense cover is not available on the comparison sites
  • Immediate cover if you are a victim of unfair and constructive dismissal
  • You can get a payout just 1 week after you can’t work
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Income Protection Mortgage

Mortgage Protection Income Protection Mortgage Insurance

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Make sure you’re on top of your mortgage payment if you’re not working.
Insurance coverage is available for accidents or sickness, as well as unemployment.
Choose the right amount of protection for your home and mortgage

What is mortgage protection insurance?

In the event that you are fired, or are incapable of working due to illness or injury the mortgage payment protection insurance will pay for the costs of your mortgage payments. This usually covers 12 months or until you’re able to resume work, whichever is first.

MPPI is available to applicants MPPI If you’re self-employed, employed or a contract worker, but always be aware of exclusions.

Mortgage protection

What does a mortgage payment protection policy include?

There are various levels of mortgage protection insurance, based on the type of insurance you wish to protect against.

1 Sickness and accident

This will help pay your mortgage payment if you get unwell or suffer an accident that results in you cannot work. The insurance will not cover you in the event that it is necessary to lose work.

2 Unemployment

This will help pay your mortgage payments should it is necessary to lose work due to being laid off. The insurance does not pay in the case of illness or injury.

3 Injuries, sickness and unemployment

This policy is the most comprehensive and comprehensive. It will protect your mortgage payments in the event that the job you hold is lost, or are incapable of working due to illness or injury.

How much will my insurance pay?

You have the option of deciding how much you would like your insurance policy to pay each month. You can choose to create a buffer over and above mortgage repayments to cover your bills as well as other expenses. The majority of providers have monthly upper limits that range the range of £1,500-£2,000.

In the event that your application is approved If it is successful, you must wait between 30 and 180 days before the money is paid While short-term insurance policies offer only 12 months’ benefits. If this is the case, make sure to consider other options prior to taking MPPI like saving your money to help keep you going until you are able to start working again.

Mortgage protection average payout illustration

Do I need mortgage payment protection insurance?

Your mortgage could be among the largest expenses of your household. It’s essential to make all of your payments or you could lose your home. But accidents can happen and sometimes things don’t follow the plan. That is why a mortgage payment protection policy comes into action to assist.

How much will mortgage assurance cost?

The mortgage payment protection premiums will be based on a variety of variables that include:

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Your salary
the icon you are borrowing
The amount of your mortgage’s payments
Policy type
The kind of policy you purchase
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When you’d like to be protected

Are there alternatives for mortgage protection insurance?

It is possible to look at other options to the mortgage payment protection insurance like:

Life insurance for mortgages

Life insurance on mortgages protects the mortgage payments in case you die.

Health insurance icon for health insurance

Critical illness coverage

Critical illness insurance pays a lump sum in the event that you’re diagnosed with certain ailments

Protection of credit cards

Payment protection insurance

Insurance for payment protection pays a monthly amount when you’re unable to work

Can I make a claim on my mortgage payment insurance policy right away?

It’s not always possible to claim right away after the purchase of mortgage protection insurance – generally, there is a waiting period of either one or two months. When you compare MoneySuperMarket and ActiveQuote, you’ll in a position to determine wait times for:

Zero days – meaning you can claim immediately
One week
Two weeks
One month
Two months
Three months
Six months
An entire year

The quicker the wait time is, the more expensive the premiums you will pay.
Does my job impact my mortgage protection insurance?

Your work may impact your insurance coverage as certain occupations have higher risk than others. This means that you’re more likely be injured or sick – for instance, if working on a construction site, there could be higher insurance rates than the secretary or computer programmer.

Can I purchase insurance to protect my mortgage payments when I’m self-employed?

If you’re self-employed, you may also be required to pay more to protect yourself If you’re a contractor, make sure you’re not excluded from protection.

Can I get mortgage payment protection insurance even if there is a prior medical condition?

Certain insurers do not offer coverage for those who have pre-existing health ailments, and those who do usually have specific conditions set in the place. For instance, you may not be eligible to claim to make mortgage payments when your condition recurs within a specific time frame after the cancellation of your insurance.

It is also possible to present proof for medical reasons, such as a physician’s note in the event that you are taking leave for specific conditions. Make sure to check thoroughly for exclusions prior to signing a contract.

Do I have to claim days off I’ve taken for mental health issues?

When taking time off work to attend to you mental wellbeing is normal and highly recommended, you could be unable to claim your insurance policy. You might need to provide proof that your mental health has made you unfit to perform your job.

What happens if I’m fired?

Find out how much your employer will give you in the case you’re laid off. If you’ve worked for your employer for a long time there is a good chance that you will receive a fair payment, which could mean you could be having to pay for your unemployment portion that is included in the mortgage protection plan unnecessary.

What happens if I am a recipient of sick pay that is statutory?

It’s important to remember that even though legal sick pay isn’t likely to impact short-term IP, any other benefits you get beyond the amount statutory (from your employer, for instance) could affect the benefits due pursuant to the insurance policy. If you’re in this situation then you might be better choice to take out accidents and sickness MPPI insurance only. State benefits aren’t typically a factor in this, unless they push your claim beyond the maximum limit, however this is worth a look prior to taking out a policy.

What is the difference between mortgage insurance and loan protection?

An insurance plan for mortgages will pay to cover mortgage payments in the event of your death, while the mortgage payment protection insurance policy pays out in the event that you are unable to work because of an injury or illness.

Some of the most common income protection insurance products include Lloyds permanent health insurance, Barclays Bank to cover loss of income, Post Office permanent health insurance, Legal and General income protection with short waiting periods and Nationwide to cover loss of income.

Income and mortgage protection insurance

Common waiting delays of Lloyds income protection policy, Barclays Bank long term income protection policies, Post Office insurance if you have an accident or illness, Legal & General regular payments income protection policies, Royal Bank of Scotland continue to pay your mortgage if you loose your job insurance and Nationwide income protection cover are 25 days, 31 days and 65 days.

Do you need mortgage protection insurance?

Tough to cover of Liverpool Victoria income protection with flexible return to work terms, More to Life income protection reviewable policies, OneFamily small business short or long term income protection insurance, Yorkshire Building Society savings cover products, Principality Building Society 12 months cover income protection insurance and SunLife critical illness cover policies are 30 days, 31 days and 60 days.

Mortgage protection insurance calculator

Tough to cover of Virgin Money income protection insurance policies, Direct Line income protection insurance policy options, Leeds Building Society high earners short term income protection policies, Coventry Building Society long term income protection policies, West Bromwich Building Society essential outgoings protection products and Progressive Building Society accident sickness and unemployment policies are 50%, 55% and 65%.

Joint mortgage protection insurance

Hard to insure occupation types include Environment professionals, User experience designers, Water and sewerage plant operatives, Development officers and Restaurant and catering establishment managers and proprietors.

Best mortgage protection insurance UK

Difficult to cover occupation types include Electricians and electrical fitters, small business Senior content executives, Community education coordinators, Weavers and knitters and News reporters.

Challenging to cover job variants include Upholsterers, Solicitor (apprentice), Painters and decorators, Musicians and Aerospace engineers.

Challenging to insure job variants include Physical scientists, TV, video and audio engineers, Nurses apprentices, Sound engineers: and Ski racers.