LARKBRIDGE

Mortgage Protection

Mortgage protection insurance covers the cost of your mortgage payments if you become unwell or lose your job.

Your mortgage is more likely your biggest monthly outgoing. If you were unable to work due to poor health or redundancy, you would still be required to make your repayments or you would risk losing your home.

There are two main options for protecting yourself: you can either take out protection insurance specifically to cover your mortgage payments or get general income protection insurance (where the payments you would receive could be used for anything). Mortgage payment protection insurance (or ‘MPPI’) allows you to continue paying off your mortgage if you are no longer receiving a secure income.

* If the policy has no investment element then it will have no cash in value at any time and will cease at the end of the term. if premiums are not maintained, then cover will lapse. Critical illness plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.  