Accident Sickness & Unemployment Insurance

Mortgage Payment Protection Insurance (MPPI) also known as Accident Sickness & Unemployment (ASU)

State benefits have been greatly reduced in recent years and if you do not have other means to make your repayments it is strongly recommended that you take out suitable insurance to offer adequate protection.

These policies are usually short term and may have a deferred or waiting periods, typically one month for accident and sickness benefits or three months for unemployment benefit. Should your mortgage repayments not be up to date, this could have an adverse effect on any claim you make. It may also be possible to incorporate an additional amount(s) to cover other essential living expenses.

Your policy may have limits, exclusions and excesses. They will be explained fully in your policy document and should be checked both when you buy your policy and at each renewal date. The policy document is a legal document and if there is anything that you do not understand ensure that you ask for further guidance.

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