Mortgage Payment Protection Insurance
How would you continue to meet your mortgage repayments if you were unable to work due to an accident, sickness or unemployment?
This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at: www.moneyadviceservice.org.uk/yourmoney. A typical monthly cost for Paymentshield Mortgage Payment Protection Insurance is £5.53 for every £100 of monthly benefit.*
We all work hard to afford to buy our own home, which is arguably our most expensive and valuable asset.
An accident, sickness, disability or unemployment can happen to anyone at any time. MortgageProtector is our Mortgage Payment Protection product, designed for new mortgage and re-mortgage customers (those whose mortgage agreement has been in force for 30 days or less). It provides you with peace of mind that should the worst happen you will be able to continue to meet your mortgage repayments.
Cover Benefits
- A monthly benefit of up to £3,000, subject to a maximum of 75% of your gross monthly income
- The option to cover up to an additional 33% of your monthly mortgage payment and related insurance costs, helping to protect your other household expenses
- The option to defer your first 3 or 6 months premium payments, or choose to pay your premiums from the start of your policy for a cheaper monthly premium
- A choice of 12 or 24 months maximum benefit period with Accident or Sickness cover
- Cover available for those who have taken advantage of Government and Local Authority Shared Homeowners & Homebuy Schemes
- Carer Cover
If you voluntarily give up your work to become a carer for an immediate family member and are in receipt of Carers' Allowance, you are still entitled to claim under your policy, meaning you can continue to support your family whilst also protecting your mortgage payments. To make a claim for Carer Cover you must be registered as a carer and be in receipt of/awaiting Carer's Allowance from the Department for Work & Pensions (DWP).
- Back to Work Support
A confidential service provided when taking out Unemployment cover, designed to provide you with advice and assistance in getting another job.
- Health, Employment & Legal Protector (HELP) Cover
HELP provides legal expenses cover up to £50,000 for the negotiation or defence of your legal rights in respect of Employment and Bodily Injury disputes
* The monthly cost is inclusive of Insurance Premium Tax (IPT) at the current rate of 6%. The cost is based on our full accident, sickness and unemployment option with 30 day back to day one cover, 12 months benefit and no deferred premium payment period, protecting a monthly repayment of £620.
What's not covered?
As with all insurance policies there are certain circumstances when you will not be able to make a claim, known as exclusions. Full details of the exclusions which apply are provided in our Policy Document.
Some examples of exclusions include:
- Claims relating to pre-existing medical conditions are excluded. You cannot claim for any pre-existing medical condition which you knew about, or should reasonably have known about at the policy start date, or which you had seen or arranged to see a doctor about during the 12 months immediately before the policy start date.
This will not apply if you have been symptom free, have not received treatment or consulted a doctor about the condition in the 12 months before the start of your accident or sickness claim. For the definition of a pre-existing medical condition please see our Glossary.
- Self inflicted injuries, cosmetic surgery or drug or alcohol abuse
- Back conditions, or mental or nervous disorders such as stress
- You resign, accept voluntary unemployment, or lose your job because of misconduct, fraud, dishonesty, poor performance or any act you carried out
- Any impending unemployment that you are aware of at the start of your policy
Contact Us
How to Claim
MortgageProtector is underwritten by Aviva Insurance Limited
HELP Cover is underwritten by DAS Legal Expenses Insurance Company Limited