Cheap mortgage protection

Questions and Answers

Mortgage Payment Protection...is it worth it?

Q) We currently have mortgage payment protection & are going to try & find a cheaper policy for it as our one seems quite expensive. But is mortgage payment protection worth it? I've read recently that it is a waste of money & not actually worth having. Does anyone have any advice? Please let me know. Thanks

A) Find a broker that handles disability and have them compare the policy you currently have with a regular disability policy that protects your income not just your mortgage payment. Do you have disability protection available at work? If so you may not need the mortgage protection. Will the mortgage protection pay in addition to your employers disability? Going without some type of income protection is a bad idea. Most home foreclosures are due to unforeseen medical problems. Try searching yellowpages.com for a Disability insurance broker in your area they are the best equipped to help you sort this out. Don't call you home and auto agent they specialize in property and casualty insurance and disability insurance requires some specialized knowledge call an expert.

cheap mortgage protection insurance?

A) Yep, go for life insurance. If you kick off, "mortgage protection" protects the mortgagee. That's the guy who gets paid. Instead of just benefiting them, benefit whomever you are leaving behind, with a REAL life insurance policy. It probably won't cost you much more, either.

mortgage payment protection?

Q) We have mortgage payment protection but it seems expensive at £55 a month for £900 cover. Is it cheaper elsewhere? Is it worth having?

A) The latest scams......MPPI: Mortgage Payment Protection Insurance.......drop it!!!! It doesn't even kick in right away and there are many exclusions......I'm in the U.S., but it sounds the same....save the 55 per month - you need an emergency fund anyway.....