mortgage protection faq main
Mortgage Protection Frequently Asked Questions
Your home may be the most important material possession, if you are unable to pay your mortgage, the security of your home could be at risk.If you are unable to work through accident or illness, or you if you are made redundant, how will you continue to pay your mortgage. You cannot rely on state help to cover your mortgage payments if you cannot work. There is no help for the first nine months of unemployment or disability for mortgages taken since October 1995. Existing borrowers only qualify for benefit if they qualify for Income Support.
You can get a quote here on our site or you can contact one of our experts who will help you decide exactly what cover you need.
Anyone can take accident, sickness and unemployment who is currently earning an income, including the self employed.
Self employed people can be more at risk than an employed person as they won't receive sickness benefit from their employers.
Yes but again you choose how long you wish to wait before the policy starts to pay. This can usually be 30, 60 or 90 days but payments can be made back to day 1. The longer the deferment period, the cheaper the premium tends to be.
Policies can pay out for up to 24 months. You choose how long you want the benefits paid for at the outset when you speak to a member of the Jump Money team.
The maximum protection you can obtain is £1500 per month. You are restricted to 60% of your current income but this is paid tax free. We can help you to calculate exactly what cover you require. You can insure the full amount of your mortgage and mortgage related insurances usually up to 125% of your mortgage costs.
You can choose exactly what you wish to protect yourself against. The policy can be for redundancy only or accident & sickness only or for redundancy, accident & sickness.
Mortgage protection or commonly known as accident sickness and unemployment is a form of insurance where you can ensure your mortgage will continue to be paid even if you are unable to work through accident, illness or even redundancy.