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Top risks covered by mortgage insurance
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Tags: mortgage insurance, life insurance, insurance, mortgage
This list sets out the greatest risks covered by mortgage insurance, covering the main three types of mortgage protection policies.
| 1. | Short-term sickness or injury: Mortgage payment protection can cover monthly mortgage repayments for up to 24 months should the policyholder have to cease working due to sickness or injury. |
| 2. | Unemployment: Again, payment protection can provide a monthly income to make loan repayments should the policyholder suffer forced redundancy, for up to 24 months. |
| 3. | Long-term sickness or injury: Either income protection or critical illness insurance can provide long-term protection against the risk of incapacity. Income protection pays an income whereas critical illness pays a lump-sum. |
| 4. | Death: Mortgage life insurance can provide life cover to repay a mortgage loan should the policyholder pass away. This form of protection is particularly popular with couples. |
Lister:
jamiepw
Source:
Mortgage Insurance
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