If you want a lifeline on which to cling to protect against finding yourself out of work due to having suffered from an accident, sickness or unemployment then you should consider taking out mortgage protection cover. Mortgage protection cover would, if it suits your circumstances, give you the money to carry on meeting your mortgage repayments each month and so give you peace of mind that you wont lose the roof over your head.
Mortgage protection cover pays out after you have been out of work for a pre-defined amount of time which can range from 31 to 90 days and the majority of policies are backdated to the day you first came out of work. The policy would then continue to provide you with peace of mind and security for up to 12 months and with some providers for up to 24 months.
And while the cover can be a great product if it is suitable for your circumstances it unfortunately isnt suitable for everyone and you have to make sure you would be eligible to claim before you buy the cover. Some of the most common reasons which could mean that you wouldnt be able to make a claim include if you are of retirement age, suffer from a pre-existing medical condition or...
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