Compare mortgage protection insurance

No. There’ll be an exclusion period before which you can't claim on your insurance. These periods are longer with mortgage insurance that covers you for unemployment – this is to stop people taking out insurance when they know they're going to be made redundant.
 
Plus, there’ll be an agreed waiting period, between the time you became unable to work and the time your pay-outs start. This is sometimes called a deferred period, and will usually last between one and six months. You might want to choose a deferred period based on when your sick pay from your employer ends.
 
You can choose cover that will pay back the payments you made during the deferred period. This is called 'back to day one' cover, but it is expensive.

Not necessarily. If you know you’re likely to get a large redundancy pay-out, or if your employer’s sick pay is very generous, you may not need it. You might also be covered under your health insurance policy, if you have one, so check first.  
 
You also may not need mortgage cover if you’re eligible for government benefits that will help you pay your mortgage – but be aware that these Support for Mortgage Interest (SMI) benefits only pay the interest on your mortgage and, depending on your circumstances, there can be a delay of 39 weeks before the first payment is made. They’re also a loan that you’ll need to pay back when you sell your home.

It’s easy with our comparison service. Just fill in a few details about yourself and the type of cover you’re interested in:

• accident and sickness
• unemployment
• accident, sickness and unemployment

Please note, that due to the coronavirus outbreak, you can’t currently compare unemployment cover with us.

You’ll then see a page listing your quotes in price order, with the cheapest at the top. There are also different tabs you can select to see the different kinds of cover and how much they would cost.

Mortgage protection insurance is, basically, a specific type of life insurance. They both pay out to look after your family when you die, but with mortgage protection insurance, the money is designated for mortgage payments, while life insurance doesn't have any restrictions. Some life insurance policies have a mortgage protection add-on.

Mortgage protection and payment protection are both types of insurance that cover a single specific debt, but that’s where the similarities end.
 
Mortgage protection insurance is specific to your mortgage and pay-outs will be paid directly to you. PPI covers unsecured finance and pay-outs are paid to the lender, rather than you.

If you’re a smoker or vaper, you will be targeted with higher premiums. This is because you’re deemed a higher risk – ie, more likely to fall ill and make a claim.
 
See how much smoking can cost you in terms of life insurance.

Yes – and because you don’t have the same rights in terms of sick pay as PAYE employees, it may be more important that you have the right cover in place. Income protection would help you keep up with your mortgage, monthly bills and other outgoings. Long-term cover is also available.
 
Find out why self-employed income protection matters.

Income protection will usually cover 50-60% of your income, so you can still pay for rent or mortgage payments, your bills and employees’ salaries. The pay-out is just to ensure you keep your home and don’t have to worry about utilities or bankruptcy, so additional costs will need to be self-funded by savings. 

Yes. Our friendly advisers at Assured Futures are just at the end of the phone. Call Freephone 0808 141 1332.