If there’s one thing you can’t predict – it’s the challenges life will throw at you. In the event you find yourself no longer earning an income – you need to make sure your house is safe. With mortgage protection insurance, you know your immediate expenses will be covered and you won’t risk losing the roof over your head.
Cover mortgage repayments
Most mortgage protection policies will require you to choose a monthly payment amount to protect, a wait period before your cover starts being paid out and a set term of how long you will receive monthly payouts. These payments will be paid out by the insurer until the expiry of your set payment term, or until you are fit and able to return to work, whichever comes first.
There are also options to add on benefits like redundancy cover, so if the unexpected happens, your home is still secure while you find a new job.
Mike Pero has access to a panel of mortgage protection insurance providers that offer products for all types of earners – so speak to an adviser today.