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Mortgage protection insurance

Mortgage Protection Insurance covers an insured risk for various unexpected things which may prevent you from making mortgage payments. There are various MPI packages available from numerous Insurance companies in the UK. Once you've established getting a mortgage the next step is to safely insure it.

MPI - Definition of Mortgage Protection Insurance

MPI is an insured plan taken out to provide a monthly payment to help you to pay your mortgage in case you are unable to work due to illness, accident or unemployment (ensure that you select the appropriate cover for your circumstances).

Mortgage protection insurance premiums

will vary according to the cover chosen, total mortgage, your age, earnings, medical history and family medical history. Ensure that all your medical history and family medical history is disclosed to avoid invalidating your entitlement in the event of a claim.

Mortgage protection insurance rates

Mortgage protection insurance rates will vary according to the mortgage, the term, your age and any health circumstances. You should seek MPI advice from a financial adviser or mortgage broker who is regulated by the FSA Financial Services Authority) and it's useful to compare like for like MPI policies and get the best mortgage protection deal for your circumstances. You can find an FSA regulated Financial Advisor on the fsa website.

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