Why would I want Mortgage Payment Protection?

Most people don't think twice about insuring their car or home etc but seem loath to insure their most precious asset - their ability to keep their home with mortgage payment protection insurance. Losing your income can become a reality after an accident, if you fall sick or lose your job.

What would happen if you lost your income? Which bills would you be unable to pay - in particular do you have a mortgage? Would you be able to keep up the repayments on your home? It almost defies logic that people are prepared to risk being made homeless when mortgage payment protection insurance only costs a few pounds a week.

Don't Fall Into the Trap...

Please take just a minute to think of the effect losing your home would have on you and your family! If you haven't taken out Mortgage Payment Protection insurance this could happen if you lose your income. Is it worth it? In reality this happens to thousands of families every year - having a devastating effect on their lives. Take a look at the facts. Having your home repossessed for failing to make your mortgage payments has another "side effect". It impairs your credit rating - preventing you from obtaining credit in the future.

Even if you have protected your monthly mortgage payments with mortgage protection cover, there are other bills which would be affected.

Mortgage Payment Protection Insurance is one way to safeguard against losing your home through being unable to work. Listed are some statistics to show why you should consider mortgage payment protection insurance cover.

You may think you would never be in the position of having an accident, sickness or being made unemployed, but these figures may change your mind. You may not want to think about contracting an illness, having an accident or being made redundant, but it could happen to you. The facts show that the chances are alarmingly high.

• Today in the UK nearly 2 million people of working age will be off work for at least 6 months through sickness and disability
• Over 800,000 people are currently claiming JobSeeker's Allowance
• Over 2 million people are claiming Incapacity Benefit
• Over 2 million people are claiming Disability Allowance
• One in three people will get cancer in their lifetime
• Over 50% of people in full-time employment are concerned about losing their job
• 4,270 properties were repossessed by mortgage lenders in the first half of 2003
• There are approx. 60,000 redundancies in the UK each month