Where to go for PHI mortgage protection, and some important questions.

ACG

What do you do for a living? That seems a little on the high side.
Saying that, it could possibly be the 4 week deferred period that is bumping it up. Some times it better to have some savings in place and have a 3 month/13 week deferred period.

holly_hobby

You need to be aware the PHI doesn not cover loss of your FULL salary (which may be why the premium you have seems high, if you sought quotes on this basis), but it has a headroom that varies between lenders, but is typicallly circa representative of 60% of your gross salary (and paid tax free), plus DWP benefits. Once in payment it will continue until you return to work, reach your retirement or max policy age or death which ever occurs sooner.

You really do need to speak to an IFA, whom will perform a full review of your current protection (inc any occupation benefits), and provide guidance on current protection shortfalls, whilst addressing your specific income protection requirements.

Hope this helps

Holly x