Mortgage Payment Protection Cover Can Work If You Understand The Policy
Providing that you have read the terms and conditions of a policy then mortgage payment protection cover can work and do the job its designed to do which is give you a tax free income with which to carry on meeting your mortgage repayments each month if you should come out of work due to suffering from an accident, long term sickness or through involuntary redundancy.
Should you lose your monthly income, the State cannot be relied upon to provide you with the income to carry on repaying your mortgage; they do give help but the financial assistance they give is very little even if you do qualify. Mortgage payment protection cover can be a better way of having peace of mind but it isnt without limitations though as there are exclusions which determine if the cover would be suitable for your circumstances. Usual exclusions include only working part time, being retired, r if you have suffered from an illness during the last 2 years and at the time of taking out the policy.
The mortgage payment protection cover would begin to payout once you had been out of work for a period of time which...
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