mortgage protection policy

wilsons

Hi all,

Part of my monthly repayments include £17 towards a mortgage protection policy (mpp)(which I think is something to do with the event of unemployment). I’m locked in a fixed rate 2 year deal with A&L and I was wondering if it is possible to reduce this mpp? Is it called something else? At the time, I didn’t take out life insurance with them so I’m wondering can you take out this mpp with someone else as well?

As always, thanks for the help.

payless

Don't believe that MPPI is compulsory with any of A&Ls recent products
I doubt they are the cheapest around

If swapping, best check that the new provider does not impose an exclusion period
(whereby you pay your premiums , but no cover in say first 3 months) - some will waive this if swapping from current plan

wilsons

Thanks for the info payless.

Jdubb

wilsons wrote:

Hi all,

Part of my monthly repayments include £17 towards a mortgage protection policy (mpp)(which I think is something to do with the event of unemployment). I’m locked in a fixed rate 2 year deal with A&L and I was wondering if it is possible to reduce this mpp? Is it called something else? At the time, I didn’t take out life insurance with them so I’m wondering can you take out this mpp with someone else as well?

As always, thanks for the help.

I'm shopping around for some myself and have just read Martin's article dated Feb 2004; I wasn't sure of the terminology and exactly wat's involved, but as usual Martin was straight to the point and, needless to say, supplied useful providers.

wilsons

Cool. Just found the article. Thanks