An overview of our standard insurance cover

Buy your Mortgage Payment Protection Insurance with Paymentshield through your financial intermediary

Your mortgage is likely to be the largest and most important financial commitment you will make. With this in mind you need to be certain that you will have enough money to meet your repayments if you lose you job (unemployment) or suffer an accident or sickness (disability).

If you fall behind with your mortgage payments and you are unable to repay the debt, you could end up losing your home. That is why the Council of Mortgage Lenders are now encouraging all mortgage borrowers to consider the advantages of taking out independent mortgage payment protection insurance (MPPI).

Our Mortgage Payment Protection Insurance can help to protect your mortgage payments for up to 12 months or 24 months if you cannot work due to unemployment or suffer a disability. You can also cover the cost of any life or buildings and contents insurance linked to your home.

Subject to the standard policy conditions our Mortgage Payment Protection insurance provides:

• Unemployment and Disability cover for both employed and self-employed applicants.
• Disability only cover is also available at a reduced cost
• Choice of single cover (in one name only) or split cover (in joint names) if two people want to be covered for part of the benefit
• Back to day one cover is available in the event of a claim
• Policy Excess periods, in the event of a claim, are also available at a reduced cost
• Cover can be transferred from a previous insurance provider
• You choose the amount of monthly benefit you need to protect your mortgage payment and related insurance premiums
• You can choose to cover an additional 33% cover over and above the combined total of your mortgage payment, life premium and household premium

The maximum sum insured (including the 33% additional cover) is £3,000. Benefit receivable on any claim is the total monthly cover or 75% of your normal income, whichever is the lower).