Mortgage Protection Insurance
We are offering one of the best Mortgage Protection Insurance policies available:
- Premiums as low as £2.45 per £100 of monthly
cover
Upto 50% cheaper than rates charged by the high street lenders*
- Click
here for an instant mortgage protection quote
- FREE COVER for all policyholders
All policyholders get 3 MONTHS FREE COVER. Click here for more information.
- Back-to-day-one cover
Tax free benefits are paid from the first day of your claim. Click here to find out more
- Upto 25% additional cover
Cover household or other expenses when you need the money most
Click here to explore all the features of this Mortgage Protection Insurance policy
*A recent survey by The Times newspaper indicated that the average cost of Mortgage Protection Insurance from the UK's top ten lenders was £5.78 per £100 of monthly cover.
Now is the time to protect your mortgage payments in the UK. UK Insurance Online mortgage protection insurance offers accident sickness and unemployment cover with great service and competitive premiums....
As talk of a recession grows, it is difficult for anyone to feel totally safe in their job. There is little you can do to stop yourself being made unemployed if your employer decides to get rid of you, but you can at least help to shield yourself against financial disaster if you are a homeowner by taking out cover. If you don’t have a mortgage, you may be able to insure other living expenses,
You certainly can’t rely on state benefits to see you through. A single person who is unemployed will currently only receive around £60 a week, while a family of two adults and two children will typically get state benefits of about £100. The amount of help you get towards your repayments will depend on when you took it out and other factors, such as your savings.
If you have taken out lendings since October 1995, you will receive no state help with your payments for the first nine months after you stop working. If it was taken out earlier, you will also get nothing for the first two months, but then half your payments will be met for the next four months. After that, the state will cover the full amount for lendings up to £100,000 providing you qualify for income support. However, many homebuyers do not receive income support because they have a working spouse or partner or have savings.
If you have payment cover, your repayments will be covered for one or two years, or until you find another job. But most borrowers still haven’t taken out this type of policy.
Lenders would like a higher take-up. Peter Williams, deputy director general of the CML, said: "Our research shows that many borrowers continue to over-estimate the assistance they could receive form the state if they lost their job or were unable to work through illness or injury. Government help with mortgages has been cut back substantially, and every homeowner should think about how they would cope if they unexpectedly lost their source of income."
An obvious place to go for this type of cover is your lender, but you are likely to be charged over the odds. You will normally save money by arranging your policy through a broker. A recent survey undertaken on behalf of the brokers UK Insurance Online, found that the top 10 UK lenders charged an average of £6.04 for every £100 of repayments covered, while the average rate charged by the top 10 brokers in the field was only £4.29.
Ross Osborn, of UK Insurance Online, said: "The main explanation for this discrepancy is commission. Lenders are taking 70%, while brokers typically receive 20%."