Mortgage, Income and Loan Protection Insurance

Mortgage, income and loan protection all come from the same stable of very useful financial products also collectively known as payment protection insurance. Each one works on the straight forward principle that an incapacity to work – through sickness or accidental injury – or a period of temporary unemployment following enforced redundancy can lead to a loss of income and extreme difficulty, therefore, in meeting ongoing financial commitments.

In any of these unforeseen events, then, payment protection insurance kicks in to provide a replacement monthly income, at a level of the policy holder’s own choosing, to cover such commitments for a maximum period of time, which is typically limited to 12 months – in other words, quite long enough for the policy holder to have recovered their good health or to have secured another job.

The different labels applied to the various products under the payment protection insurance umbrella are simply a reflection of the different purposes to which each product is best suited.

Mortgage payment protection, for example, just as its name suggests, will provide a monthly benefit in the event of incapacity or involuntary unemployment, to ensure that mortgage repayments (and associated mortgage and property insurance premiums) continue to be paid;
Loan payment protection will ensure that repayments on any other type of loan continue to be met; and
Income payment protection will provide a monthly replacement income to help meet any number of ongoing financial commitments.

With mortgage, income and loan protection to choose from, there is certain to be payment protection insurance cover that best suits the individual’s needs.

Why Buy from British Insurance

Their staff are friendly, well trained and based in the UK
British Insurance are a multi-award winner
They are recognised consumer champions and market leaders
They are regularly recommended on the TV and Radio, including ‘Tonight with Trevor McDonald’ and the ‘Money Programme’
They are independent and FSA authorised