Mortgage payment protection

While most people take out cover to protect their mortgage if they die, many people omit to cover their monthly mortgage payments in the event of them being unable to work for an extended period due to accident, sickness, disability or redundancy.

This is despite the fact that you are 16 times more likely to have a breakdown in health lasting more than 6 months than you are to die before age 65.(Annual Abstract of Statistics 1995)

A Mortgage Payment Protection policy can therefore provide you with valuable financial assistance in times of great need and can make the difference between remaining in your new home and having to sell it.

When you take out the cover you decide on a deferred period – the period during which no benefit would be paid. This is usually 30 or 60 days and benefits when they start to be paid are usually paid for up to 12 months (or earlier if you return to work).

To obtain a quotation and to apply for this cover, call BuildStore on 0870 872 0908.