Mortgage unemployment insurance is also known as mortgage payment protection insurance or MPPI. These types of policies are used to protect your mortgage payments against accident, sickness or redundancy (unemployment). Should the worst happen then at least you know the monthly mortgage payments are taken care of for up to 12 months. This gives you time to get back on your feet.
You may already have a mortgage payment protection insurance policy or you may be offered one by your mortgage company. Before committing yourself take a moment to review what’s on offer. Mortgage lenders make a lot of money by selling Mortgage unemployment insurance policies and their cover is rarely the best. In addition, the premiums are not always competitive due to high levels of commission.
You are perfectly entitled to search out the best Mortgage unemployment insurance for yourself and buy this as an independent policy. This leaves you with the best cover and the flexibilty of having a mortgage that is not tied to an MPPI policy.
For more information please visit http://enhancedwealth.co.uk/asu/mppi/index.htm