Mortgage payment protection is used to safeguard your mortgage policy. The monthly installments that you make every month to the lending institution will continue to get paid in case you've got protective coverage.
You're not in danger if you're well-protected mortgage insurance program. You can choose the best mortgage payment protection insurance via Foxgrove Associates.
You are aware that your collateral will be in danger if you do not have proper protective measures. This will help you have a better and secure life as you know that there is a policy to cover you in case things went wrong.
You will be paid a mortgage payment up to 12 months duration. It will start covering you from one month of your inability to go to work. It is assumed that 12 months duration is enough for recovery or to find a job.
It covers you during the following circumstances:
– Involuntary unemployment
This policy cover will also offer you tax-free income. When you have a policy in place you will be in a position to enjoy income which is tax-free. This insurance policy is covered under tax exemption too.
Therefore, if you find yourself out of work in the future due to illness, or an injury from an accident or from involuntary redundancy. if you have a mortgage payment protection policy.