Newbie MPI question

FTB-FTW

Hi all, just a quickie - my husband is arranging mortgage protection insurance this week. I am self employed (and more to the point embarking on a career change so it's just complicated to sort it out for me at present) so it will just be him taking it out.

Should he apply to cover the entire monthly repayment (which we actually split 50/50) or just his share + bills? Is 25% a reasonable estimate for bills if so? We are leaning towards doing it that way to keep costs down but are a bit worried about what happens if we both lose our jobs at the same time or I get pregnant (no proper mat leave with self employment) or similar.

Thoughts?

dunstonh

I am self employed (and more to the point embarking on a career change so it's just complicated to sort it out for me at present) so it will just be him taking it out.

It may be worth you doing a PHI policy then with one based on your occupation at point of application.

Should he apply to cover the entire monthly repayment (which we actually split 50/50) or just his share + bills?

Whatever matches your financial need (which we dont know here).

Is 25% a reasonable estimate for bills if so?

You know your bills better than us.

What is the primary requirement of the income protection? sickness, accident or unemployment?

Would a PHI be better than an MPPI or even a PPI be better?