Joint Mortgage Protection Insurance Comparison
Some of you might find yourself in predicaments, where unemployment can be a hurdle for your peaceful life. In such situations it becomes near to impossible for you to make payments for mortgage. Mortgage protection insurance proves to be your best friend as it provides you an assurance that easily pays of your loans on your behalf for a set time period.
Why is Joint Mortgage Protection Insurance better?
In times of today, we understand that it might be frustrating for some to sit back at home because of unemployment. There has been an astounding growth in joint loans; in this both partners can apply for loan together. Hence, the policy receives payments through both partners either on 50-50 basis or something that suits them best. Home has always been a shelter that protects us from dusts, disasters and many other natural aspects. It also serves as an impeccable financial asset but you might create an endangered risk to it by not paying your mortgage payments. This may occur maybe because either of your have lost his/her job or is unable to pay off due to strict illness. You just need to check on details of some largest companies that offer a policy, which provides protection from mortgage payments. This policy unlike others provides you protection for a maximum 24 months.
It’s as simple as spelling ABCD, what you need to do is; get insured with joint mortgage protection insurance plan. It offers you a choice up to how much cover you need and selecting a preferable period to do so. In comparison to other insurance policies, this one offers payment protection in case you partner is unable to pay of his/her share of repayment. Causes can be plenty some of it may include:
Illness or injury: Incase, where you are not able to commence your official work due to an illness or injury for one month or so.
Unemployment: Getting redundant or inability to find another job.
Death: In case you pass away then whole financial responsibility falls upon your partner hence, this helps the insurer of financial independence.
Benefits over other Policies
Here not only you get financially secured but also receive double bonanza as compared to other policies. You can even get additional cover for family protection as might get more expensive at later stage. By deposition an extra small portion in this policy may gain you both mortgage as well as family protection cover.
A major drawback with joint mortgage protection insurance is that policy matures untimely depending upon the death of any one partner, which might leave out the living spouse uninsured at later stage.
How can we save you up to 40%
If you don't find the best joint mortgage protection deal now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only specialise in joint mortgage protection. Easily search over 400 policies and find your best quote. Complete our short form to get started.