Why you need Mortgage Payment Protection Insurance

Mortgage Payment Protection Insurance is vital if you want to protect your home and family should the unexpected happen and you're unable to work.

Do you need Mortgage Payment Protection?

How would you manage if you couldn't pay the mortgage? If you lost your job, fell seriously ill or had an accident? If you're self-employed how would you pay the mortgage if you were unable to work?

And if you think the unexpected always happens to someone else, think again!

Did you know that overall, it is estimated that more than one in three people will develop some form of cancer during their lifetime (Cancer Research UK).

It is estimated every six minutes someone in the UK dies from a heart attack (British Heart Foundation).

32% of people made redundant would fail to meet their current living expenses in the first month, with one in 6 defaulting immediately (TNS Onmibus).

How long could you manage without protection?

Very few of us have the financial means to cover living costs with no income. Ask yourself these questions:

• How long would your savings last if you were out of work for any length of time?
• If you were made redundant how much would your employer pay you?
• If you're Self-employed how long could you pay the bills and the mortgage if you are too ill to work?

And don't forget your home may be repossessed if you can't make your mortgage repayments

Shocking stuff if you've not considered it before. But these issues shouldn't keep you awake at night if you protect your mortgage with helpucover Mortgage Payment Protection Insurance.

Social Security benefits - the uncomfortable truth

If you earn on average £95.00 or more per week, your Statutory Sick pay entitlement is only £79.15 per week. Could you and your family survive on £342.98 a month?

• No mortgage assistance is available for the first 13 weeks of unemployment
• No assistance towards the portion of your mortgage that exceeds £200,000
• There is limited financial help through the State Benefit System (Income Support for Mortgage Interest ISMI) but it only applies to Mortgage Interest, not Capital Repayments or other mortgage related out-goings such as insurance premiums
• ISMI is only paid at the Standard Rate, which may not match the rate your Mortgage Provider is charging.
• ISMI is means tested, which means there isn't a guarantee it will be paid.

Unemployment - more shocking facts

• In November 2009 the UK unemployment rate reached 2.46 million (ONS January 2010)
• 1,995 people are made redundant every day (Credit Action - February 2010)
• The average length of a claim for Unemployment is 168 days (ABI 2/9/9)
• 386 people today will be declared insolvent or bankrupt. This is equivalent to one person every 3.72 minutes.

All the protection you need:

• Cover available for up to £2,000 a month for a year
• Cover from only 63p per month (Per £100 of benefit a month)*
• Benefits paid up to 6 or 12 months
• Paid direct to you in addition to any other benefits (i.e. Statutory Sick Pay)
• Personalised quotes whatever your circumstances - up to age 65
• Range of cover options, no matter if you're employed or self-employed
• Benefits are payable after 30 days

* Based on an 18-24 year old for accident and sickness cover

And ADDED Aaaaahhhhhhhhhhhhhhhh!

Our award-winning 8 step action plan to help you Back to Work

Protection for self-employed and contract workers

If you're self-employed or a contract worker, it's even more essential to protect your mortgage payments if you're unable to work.

We offer a range of cover, including Accident & Sickness protection or Accident, Sickness & Unemployment.

Because we believe in treating all our customers openly and fairly, please make yourself familiar with the particular terms and conditions for self-employed and contract workers before you apply.

Full Policy - PDF