Protect your Mortgage from Accident or Redundancy

Your mortgage is one of the largest commitments you will ever make. It is something that will hopefully bring you great joy but could also potentially bring you financial hardship if you cannot work because of an injury, illness or redundancy.

So just like you protect your car or home contents from damage, shouldn't you be protecting your mortgage from the risk of been unable to make the repayments?

Mortgage Payment Protection Insurance or Accident, Sickness and Redundancy insurance is a policy designed to pay you a monthly benefit if you cannot work because you have been made redundant or are suffering from an illness or injury that prevents you from earning an income.

The cover, offered by a wide variety of companies including household name Aviva (formerly Norwich Union), will make these monthly payments until you can either return to work or for up to 12 months from your first benefit payment.

The cover is primarily aimed at covering mortgage or rent repayments but a range of insurers will also offer cover for a percentage of your general income. The insurance is adaptable to your circumstances and can be arranged to offer full protection for accident, sickness and unemployment or partial cover for either accident and sickness or for redundancy.

Assuming you are not already aware of impending redundancies, unemployment insurance can turn a disastrous situation (that of losing your job and being left without an income) into a smaller inconvenience whilst you hunt for new employment.

Premiums for your accident, sickness and unemployment cover are based on the amount of monthly benefit you require, your age, sex and the level of protection you have chosen.

Unemployment Insurance can be a dainty task and if you are unsure as to which cover is best for you, you should take advice from one of our qualified insurance advisers. You can apply for an instant quote online or contact us on 0808 17 82 777.

Insurance Glossary

Insurance Jargon BusterInsurance Jargon Buster - A Plain English Guide

Like with most subjects, insurance comes with its own language which can include its own confusing terminology. Our Jargon buster aims to help you clarify what some of the terminology you might find on our website means so that you can fully understand the policies and covers you are considering.

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