MPPI protects your mortgage payments and insurance premiums if you become unemployed or suffer a disability (accident or sickness), meaning your home is safe from repossession until such time you get back to work.
The average MPPI premium from ten of the UK’s top lenders is £5.78 per £100 of monthly benefit*, yet many consumers will not be aware that the bulk of this cost is the lenders’ commission. And while, understandably, the lenders appear reluctant to disclose how much profit they are making, industry insiders state that an average commission will be around 70% of the premium.
Jason King from insurance specialist website www.protection-insurance.com says: “There has been a lot ofpress coverage about lenders grossly over-charging their customers to increase their profitability, yet it still doesn’t seem to stop them blatantly exploiting their customers.
“When we launched our MPPI product earlier this year, we saw a gaping hole in the marketplace for a comprehensive MPPI product, offering valuable benefits and at a realistic price. We offer full ASU cover at just £3.95 per £100 worth of cover, with many additional benefits not available with some other plans.
“We would urge anyone looking for an MPPI product to shop around and beware of obviously inflated premiums. Just because a product is more expensive than another, it does not mean it is better”.
www.protection-insurance.com are currently offering all new customers their first three months’ MPPI cover free** and all their policyholders benefit from their Back-To-Day-One cover, meaning that, unlike some providers, claims are paid back to the very first day of a claim.
For a free no-obligation quote and to buy online, visit: www.protection-insurance.com and click on Mortgage Payment Protection Insurance.
