Mortgage Insurance Price Comparison Sites Agree iprotectinsurance.co.uk are the Cheapest
Added: (Fri Jan 14 2011)
Pressbox (Press Release) -
Check the position of i:protectinsurance.co.uk on MoneySupermarket's Mortgage Payment Protection Insurance price comparison tables, i:protect offer market leading value for money with the best price to benefit ratio. This is in respect of applicants up to 45 years of age who represent, by far, the majority of buyers. Demand curtails dramatically above this age because, by this stage in their lives, the majority have sufficient savings to fall back on if they are out of work.
The i:protect Mortgage Payment Protection Insurance pays the policyholder’s mortgage if they are unable to work due to accident, sickness or unemployment. Naturally, that must be involuntary unemployment, a good example of this would be an individual losing their job due to redundancy. When applying for this insurance, i:protect also offer customers the option of selecting up to another 25% of extra benefit to cover other household bills. This policy will pay out a maximum of £1,500 every month, for up to a year, or until the policyholder goes back to work.
Mortgage Payment Protection Insurance is often sought by individuals, as well as families where, although they are in work and able to meet their bills, they simply to do not have the savings to fall back on if they are out of work. Statistics show it takes an average of seven to eight months to find another job*. For many this would mean going into serious debt, together with facing all of the problems associated with credit blacklisting or being forced to seek financial help from family and friends.
With i:protect’s Mortgage Payment Protection policy, benefits are tax free and do not prevent the policyholder from claiming any State Benefits they are due, for example, Job Seekers Allowance. In addition, i:protect include a free legal Helpline for redundancy related matters. More importantly however, their policy includes a free service from independent employment specialists to help their policyholders get another job or start a new career.
This cover can be bought by self employed people as well as employees.
Because of the flexibility offered by the i:protect policy, premiums vary. However, i:protect confirm that the majority of their customers pay the equivalent of £5 per week for this cover. Most choose to receive a benefit equivalent to their monthly mortgage payment plus, on average, 20% for other bills. This is a very reasonable premium compared to what a bank or building society would charge and reflects the low overheads of i:protect’s on-line business. Their cover is only available direct to the public and not through brokers or other intermediaries. Based in Winchester Hampshire, i:protect deal with all claims in the UK. They do not employ telephone sales staff or use overseas call centres.
The independent consumer web site Money Made Clear confirm that i:protect offer the best value for money Mortgage Payment Protection Insurance. Because of this, it is well worth going to the i:protect website to get a quote before comparing prices. They also offer a free MPPI Buyers Guide that can be downloaded as well as a great number of customer testimonials from people who have claimed on their policies and can vouch for i:protect’s high level of customer service.