Mortgage
Protection Insurance Facts
Anyone with a private mortgage
needs a mortgage protection insurance plan with a good
foundation of disability & income cover.
| • |
One in three people
aged between 25-34 have experienced unemployment
for a period in excess of one month.
|
| • |
Almost one in five
working age households (3.4 million) have someone
who is currently unemployed.
|
| • |
Every day approximately
500 people in the UK become unemployed. 60% of
unemployed men and 45% of unemployed women will
be out of work for six months or more. |
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Back in the year 2000 statistics
show that 90 families a day had their homes repossessed.
Today it's worse, and the majority of these repossessions
are caused by payment failures during unemployment.
The straight facts on our mortgage payment protection
insurance
This mortage repayment
protection cover is designed for UK residents.
It will protect your mortgage repayments and
insurance premiums for up to 12 months if you become
unemployed or suffer a disability (accident or sickness).
If you are taking out the insurance to
protect a new mortgage or re-mortgage you can receive
up to six months cover completely free.
Protect your mortgage repayments
BIBA/Burgesses private mortgage
insurance plans provide full unemployment and
disability cover. Unemployment only cover or
disability only cover is available at a reduced cost.
BIBA provide free cover benefits
for both new and existing mortgage borrowers and competitive
premium rates after the free cover period.
Back-to-Day-One benefits are payable
after 30 days and claim benefits are paid for up to 12
months.Our plans cover employed and self-employed applicants.
The application procedure is simple and requires no medical.
Cover can be transferred from one lender to another and
covers all repayments as specified in
the policy documents.
This protection is the insurance answer for UK mortgage
holders
For example, if you start your
claim on the 1st of May and return to work on the 29th
of May, no benefit is payable. If however, your claim
exceeds 30 consecutive days you will receive benefit
dating back to the first day of your claim (i.e. 1st
May). Effectively, for claims that exceed 30 days there
is 'no excess' or period during which you are unable
to receive benefit.
Remember, it's cheap, effective
private mortgage cover. You can do it on line, and it
has you covered from every angle.
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