What features of mortgage insurance covers employment loss?
Answers:
my suggesting would be getting as much information as you can in the past taking any action,here http://bestinsurancehelper.com is a good place for that purpose.
The finance industry's answer would be Payment Protection Insurance. This does not, however, have a principally good reputation at the moment, as can be seen from the comments (below) of Which? Magazine. Source(s): http://www.which.co.uk/campaigns/payment…
You can get standalone unemployment insurance, or included contained by Accident Sickness and Unemployment (ASU) policies, also known as Mortgage Payment Protection Insurance (MPPI).
MPPI has have a bad press because of the way it be sold by some. i.e. quite often the MPPI be added to loans without telling clients fully, or at adjectives. In some cases the clients were actually ineligible for the cover because, for example, they be unemployed or self-employed.
However, just because it be miss-sold by some, doesn't mean that it was miss-sold by adjectives and is therefore a bad product. That's merely not true.
Personally, I prefer Income Protection instead of Accident & Sickness cover because it's more comprehensive, pays out for longer and is directly related to salary or income. ASU only pays out for 12-24 months and for a predetermined amount of money, and only designed to cover the liability, leaving little or nil to live-off.
However, there is no other insurance product (that I know of) to insure against unemployment. It is possible to hold out an ASU policy for just the unemployment cover. Have a look at the sites below, or Google check out for redundancy insurance.
Best wishes. Source(s): http://www.godirect.co.uk/life-insurance…
http://www.unemployment-insurance.co.uk/
None.
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