Home » Finance

Cheap Mortgage Insurance Can Help You To Keep The Roof Over Your Head

Nov 10, 2007
If you are in full time work and have monthly mortgage repayments to make then you probably worry what would happen if you were to come out of work if you suffered from an accident, illness or were to be made unemployed by being made redundant. One consideration you might have given some thought to is mortgage insurance, but unless you have shopped around with independent providers for the cover then you could have found it very expensive. Cheap mortgage insurance is out there if you look around and it can give you a replacement income to pay your mortgage payments, but you have to buy it independently from a specialist provider for the cheapest premiums.

An independent specialist provider will always find you the cheapest premiums for mortgage payment protection and will always give you access to the essential information you need to ensure that a policy is in your best interests. Specialists offer cheap mortgage insurance which begins to payout from the 31st day of being continually out of work and then continues to give you a tax free income for up to 12 months although some cover can last for up to 24 months with some providers but policies don't start to payout unless you have been out of work for up to 90 days.

Along with being expensive the cover is also know to be hard to understand and one of the failings has been the lack of information regarding the exclusions in a policy. All policies have them and some of the most common are if you are of retirement age, self-employed, if you are suffering from a pre-existing medical condition or if you only work part time. However while these are the most common there can be others and all policies will differ, exclusions are often hidden in the small print and it is essential you go over these with a fine tooth-comb before buying a policy.

Mortgage cover along with the rest of the family of protection policies have earned themselves a bad name when the Citizens Advice brought it to the public's attention that policies were being mis-sold. The Office of Fair Trading received the complaint in 2005 and the Financial Services Authority began an ongoing investigation which resulted in several well known high street names receiving fines with the latest being a mortgage firm.
Currently in the hands of the Competition Commission who are conducting an in-depth review of the sector which is expected to reach conclusion in February 2009 there has been changes for the better made already and in March 2008 a much needed change for the better will arise with the introduction of comparative charts.

Comparative charts will give the consumer a better understanding of the products and will help them to determine which is the most suitable for their needs by asking a series of questions which will then lead to the consumers best choice. The chart will highlight the cost of the insurance along with making the consumer aware of the exclusions within a policy, cheap mortgage insurance can help you to keep the roof over your head but you do have to buy it wisely if it is to work. Take the advice of a specialist not only to help you save money on mortgage cover but also to ensure that you understand a policy as this is your best option until the charts come into force.
About the Author
Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of cheap mortgage insurance, income protection insurance and loan protection insurance.
Rating:
Please Rate:
(Average: Not rated)
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources