Cheap Mortgage Protection Insurance Is Just A Click Away
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
Affordable Mortgage Protection Insurance Is Just a Click Away
Summary:
Discovering affordable mortgage protection insurance is easy when you search online with an independent specialist provider. These providers help you make significant savings on this valuable cover?"provided you've thoroughly understood the exclusions pertinent to your situation. It's crucial to read the small print of the policy to avoid any misunderstandings that could render your coverage ineffective.
Keywords:
Income Protection Insurance, Mortgage Protection Insurance, MPPI, PPI
Article Body:
Finding affordable mortgage protection insurance is straightforward when you search online with an independent specialist provider. These providers can help you save significantly on what could be essential coverage, as long as you’ve checked the exclusions relevant to your circumstances. It's important to examine the policy's fine print before purchasing, as a lack of understanding of exclusions could make the policy ineffective.
Common exclusions include being of retirement age, self-employment, existing health issues, or part-time employment. While these are typical, providers may have additional exclusions, so it’s vital to verify that you qualify to make a claim.
Affordable mortgage protection can be a crucial lifeline in case you are unable to work due to an accident, a severe illness, or unexpected redundancy. The policy can start paying out between the 31st and 90th day, providing tax-free income each month. This can offer peace of mind by covering your mortgage repayments when state assistance may not be sufficient. Depending on your circumstances, this coverage can support you for 12 to 24 months, allowing time to recover or find new employment.
Avoid the temptation to purchase coverage directly from a high street lender when taking out a mortgage. While convenient, it is often the most costly and risky option, with limited information about exclusions and key facts. This can lead to mis-sold policies that consumers cannot claim against.
Mis-selling issues came to light in 2005 when the Office of Fair Trading received a super complaint from Citizens Advice. Concurrently, the Financial Services Authority launched an investigation, leading to fines for several high street names. Despite improvements, a recent case saw a mortgage firm and its Chief Executive fined, marking a precedent in personal accountability.
For both affordable mortgage protection insurance and peace of mind, consider an online search with a standalone specialist provider. Ethical providers offer clear access to key facts and exclusions, enabling you to make an informed decision about the policy's suitability.
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