Cover & Claim Scenarios
Yes, you can have a Mortgage Protection policy at the same time as an Income Protection policy as they insure different risks.
You can insure any percentage of your gross monthly income up to 75% or up to £3,000, whichever amount is lower.
With MortgageProtector you can cover your additional insurance premiums such as your life cover and buildings & contents insurance, as well as an additional 33% cover of the total of your monthly mortgage payment as long as the total doesn’t exceed £3,000 or 75% of your monthly earned income.
You must be registered as unemployed and declared to HMRC that you’ve ceased trading.
Any sick pay that you receive from your employer doesn’t affect your entitlement to make a claim on your policy.
Yes, we offer all our cover types in full if you’re self-employed.
Yes, if you’re a joint mortgage holder you can select for both of you to be covered. You select the proportion of the benefit each of you would receive in the event of a claim. For example, it can be split 50/50, 70/30 etc, provided that the amount doesn’t exceed 75% of your individual income. If you’re joint mortgage holders and want to cover 100% of your monthly mortgage repayment each, you would need to take out a separate policy.
Cost & Monthly Payment
There is no charge for making a change to your policy. You’ll only pay the difference in your monthly premium that your requested change caused.
This will depend on the qualification period you selected when taking out the policy. We offer 5 qualification periods and the one you chose will be shown on your certificate of cover.