Mortgage Protection

Mortgage protection insurance is a type of Payment Protection Insurance (PPI) designed to cover your monthly mortgage payments if you are temporarily unable to work due to accident, illness, or unemployment. The level of cover you choose will depend on your circumstances and priorities.

Policies typically provide financial support for a set period, usually between 12 and 24 months, or until you are able to return to work, whichever comes first. Since not all providers offer this type of insurance, speaking with a financial adviser can help you explore your options and find the right cover for your needs.

At Fennel Financial, we provide tailored advice to help you select the best protection plan that fits your unique financial situation. Our expertise ensures that you receive the right coverage, giving you and your family the security you deserve during challenging times.

Mortgage protection insurance can refer to two different types of cover:

Mortgage Payment Protection Insurance (MPPI) – This covers your monthly mortgage repayments if you are unable to work due to accident, sickness, or redundancy. It provides temporary financial relief, ensuring you don’t fall behind on payments during difficult times.

Mortgage Life Insurance – Sometimes referred to as ‘mortgage protection,’ this is a type of life insurance specifically designed to cover a repayment mortgage. Unlike MPPI, it pays out a lump sum in the event of the policyholder’s death rather than providing ongoing payments due to illness or job loss. This ensures that any outstanding mortgage debt is cleared, offering financial security to your family.

If you’re unsure which type of mortgage protection best suits your situation, speaking to an adviser at Fennel Financial can help you make an informed decision.