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Mortgage protection Insurance & Life Insurance
sm00ch1979
Posts: 5 Forumite
I am in the process of buying a new house, using the capital from my first house sale as the deposit for my second.
I am under the impression that along with the usual B & C insurance, I will obviously need MPPI which should pay out on Accident, sickness & unemployment. And I will need life insurance with critical illness cover. Am I missing anything? As I have been trawling the comparison sites and i have fried my brain.
I am under the impression that along with the usual B & C insurance, I will obviously need MPPI which should pay out on Accident, sickness & unemployment. And I will need life insurance with critical illness cover. Am I missing anything? As I have been trawling the comparison sites and i have fried my brain.
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Comments
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How would you pay your bills if you got an illness or disability which lasted more than twelve months but which wasn't on the list of conditions which allowed a critical illness claim?
Think unemployment cover (if concerned about job loss) and permanent health insurance, with critical illness cover as a bit of a luxury if you have money left over.
MPPI and life and critical illness cover are your typical lender/estate agent advisor sales of preference. PHI is more difficult involved and therefore ignored by many advisors.
Get proper advice on needs/protection from an independent protection specialist, not a tied agent.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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