Cheap Mortgage Cover Can Be Found With A Standalone Specialist Provider
Providing mortgage cover is suitable for your individual circumstances then it could be a financial lifeline if you were to lose your income. If you were to become out of work after suffering an accident, an illness or were to become unemployed by way of involuntary redundancy, then you could be left struggling financially. In the worst case scenario you could lose your home to repossession but it does not have to be this way if you have considered taking out protection in the form of cheap mortgage cover.
Cheap mortgage cover would give you a tax free income once you had been out of work continually for between 31 and 90 days. A policy could then continue providing you with a tax free income for between 12 and 24 months depending on the provider. The income would allow you to continue repaying your mortgage without worry and so you would not be at risk of losing the roof over your head through no fault of your own.
However, as with all insurance policies, you do have to check the terms and conditions. Some exclusions which are common to all types of payment protection insurance...
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