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Mortgage Protection Payment Insurance
kimmancec
Posts: 2 Newbie
I have looked through my MPPI schedule but am still not sure if being in receipt of a state pension while in full time work would negate any claim if i was made redundant or become ill. Does anyone know?
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Comments
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It shouldn't, however it really depends on the wording.
MPPI generally will pay a fixed amount as long as you have a valid claim (i.e. have a condition covered under the policy etc) regardless of any income.
However, if you are receiving a state pension, you would be over the age of retirement and most MPPI policies would only cover you up to a certain age anyway. It may be worth checking if there are any agre retrictions on the policy. Unfortunately although the mortgage lender may offer a mortgage, it doesn't mean the insurer will offer the cover.0
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