April 26, 2008
How does mortgage protection insurance work?
Basically put, if you are unable to make you mortgage payments because of accident or illness, or because of unemployment, you payments are made for you through the insurance. This is similar to car insurance that covers you if you are in a car accident, except that mortgage protection provides the same type of cover for your home.
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Comments on How does mortgage protection insurance work? »
If you are thinking of taking out a UK mortgage protection insurance policy alongside your mortgage then do remember that you don’t have to buy it when you take out your mortgage.