Which cover do I need?

Cantona_2

I currently have 3 months free Accident, Sickness and Unemployment cover with my new Nationwide mortgage.

When this cover expires, I will be looking for something that will cover the mortgage payment plus £200 on top of that for bills in case I am made unemployed only.

I don't need the accident or sickness element of this cover, as my work pays my wage at 100% for six months.

Am I just looking for unemployment cover, or is it known as a different name to this? I keep hearing things like Permanent Health Cover, Mortgage Payment Protection Income, and I'm getting confused!

regularsaver1

Are you sure that the cover doesn't continue after 3 months but at a premium?

what happens with your work after 6 months? - half pay? ect - think about how this will effect you, and how you will manage

Cantona_2

regularsaver1 wrote:

Are you sure that the cover doesn't continue after 3 months but at a premium?

what happens with your work after 6 months? - half pay? ect - think about how this will effect you, and how you will manage

thanks for your reply... sorry, I meant the free cover expires after 3 months, and the quote I have been given for after that is expensive.

After 6 months, yeah, it's half pay for another six months. My pay is far more than my mortgage payments, and even on half pay I've worked out we would be fine to pay the mortgage still.