Mortgage protection gives you an important safety net.

Buying a new home may be one of the most stressful things you can do, but losing it will be a lot tougher. That’s what can happen if you haven’t protected your mortgage payments in the event of your having an accident, facing long-term sickness, or becoming unemployed.

Unlike buildings insurance, mortgage protection isn’t mandatory, or compulsory, when you take out your mortgage, but it is advisable. Many people take out life insurance so that the mortgage is paid off in the event of their death, but fewer people stop to consider what will happen to their mortgage payments and indeed their home if they fail to protect against everyday events.

What is mortgage protection?

Mortgage Payment Protection Insurance (MPPI) is an insurance policy in exactly the same way as your buildings and contents cover. The risk is that you will be unable to make your mortgage payments because you have been hurt in an accident, or contracted an illness, or are unemployed. All of these situations mean that you could be unable to work and, if there’s no money coming in, how are you going to make your payments? Mortgage protection policies allow you to claim on the policy when one of these things happens and the insurance company will meet your mortgage payments from anywhere up to 12 or 24 months. This kind of support can be invaluable, and that’s why more people are choosing to take out mortgage protection.

How do I get the right mortgage protection?

There are a number of policies on the market, so you need to be sure that you’re choosing the one that gives you the cover you need at a price you can afford. That’s why it’s worth searching Jump Money. Get a free, instant online quote and compare prices and policies online, giving you all the information you need in order to make an informed choice. When you’re sure you’re happy with the policy and the insurer, you can apply online and relax in the knowledge that if the unexpected happens, your home is protected and you and your family are secure.

Jump Money is a specialist in life insurance and is happy to answer any questions you may have related to life insurance, life assurance, term insurance and life cover.  The company will strive to fit an insurance package to the exact criteria you need in order to help you avoid buying products you do not need as well as helping you fully understand your purchase. To find out more about how Jump Money can help you protect yourself and your belongings call now on 0844 4170894 or fill in an online quote form today.

None of us want to be financially damaged because of unexpected events. It’s easy to take our salary for granted and to plan to make our monthly payments on time, but as soon as our circumstances change, we can develop financial problems far faster than we might expect. That’s why it makes sense to protect yourself against the unexpected – particularly accident, sickness and unemployment (Mortgage Protection)

How accident sickness and unemployment can damage your finances

Whether you have an accident at work, are involved in a car crash or are injured whilst you’re on holiday, a long-term problem can have an effect on your finances. Accident, sickness and unemployment can all impact on your ability to earn and if you have an accident where you are severely injured, or where you lose the use of a part of your body that is vital to your current job, you could face difficulty. Your earnings may decrease, but you will still have to make your mortgage or rent payments, along with all the other expenditure you’re committed to.

Mortgage Protection - Sickness

Sickness will have the same effect. Whilst you may get a full salary for a certain period of sickness, you will eventually only receive statutory sick pay, and your contract may even allow your employer to terminate your job after a number of months. If that happens, you are left with no money coming in, and you may find it difficult or impossible to work elsewhere.

Mortgage Protection - Unemployment

Unemployment can have serious financial consequences. Being made redundant is difficult at any time, and although you will have a redundancy payment, it may only cover you for a month or two. If you’re then unable to find new work, you could get into financial difficulty.

Beat accidents, sickness and unemployment

You can beat the financial worries brought on by accident, sickness and unemployment by taking out an insurance policy. You could buy mortgage protection to ensure that you keep a roof over your family’s head when things get tough, or income protection which will give you the money you need to meet all your other bills. You can get a free, instant online quote and compare prices online at Jump Money, where it’s easy to find the best policy for you – and one which will set your mind at rest.

Jump Money is a specialist in Life Insurance and is happy to answer any questions you may have related to Life Insurance, life assurance, term insurance and life cover. The company will strive to fit an insurance package to the exact criteria you need in order to help you avoid buying products you do not need as well as helping you fully understand your purchase. To find out more about how Jump Money can help you protect yourself and your belongings call now on 0844 4170894 or fill in an online quote form today.