ArticlesReader.com

 

ArticlesReader.com Menu
Newest Articles
Most Viewed Articles
ArticlesReader.com RSS
Submit Article
Login
Signup
Search the articles

Articles Main Categories
Advice
Animals
Automobiles
Business
Career
Communications
Computer Programming
Computers
Entertainment
Environment
Family
Fashion
Finance
Food
Health & Medical
Home & Garden
Humor
Internet Business
Internet Marketing
Legal
Leisure & Recreation
Marketing
Other
Politics
Reference & Education
Religion
Self Improvement
Sports
Technology & Science
Travel
Writing
Subscribe
Receive alert message from us when new articles submitted to our site for free.

Enter your name

Enter your email

Syndicate

















Related Products
Home::Insurance

Mortgage Insurance explained

Author : Jason Hulott
Getting a mortgage is bad enough – what with terms like fixed rate, discount, variable etc – so mention mortgage insurance and naturally your eyes will start to glaze over.



However, mortgage insurance is an extremely important insurance to have – in fact, it can the difference between keeping a roof over your head or ending up having your home repossessed.



If you recently took out a mortgage, you may remember the lender asking you whether you wanted mortgage payment protection insurance. It probably sounded expensive and unnecessary. And while, in some cases, there are companies who like to charge you too much for the product, it doesn’t have to be that way.



As for it being unnecessary – get the right policy and at the right price and it will be an invaluable safety net for you. So, what is mortgage insurance? It is a product whereby should you be unable to meet your mortgage repayments due to being made involuntarily redundant or due to being able to work because of sickness or maybe an accident – then it will cover your mortgage repayments.



Your mortgage repayments (and sometimes other mortgage related outgoings too) will be covered for up to a set period of time (typically 12 months but this can vary from provider to provider) to give you enough time to find another job, or get well etc.



Many people may think that mortgage payment protection insurance is a waste of money, using the old adage “It’ll never happen to me”. However, this is not true. Being unable to work – and therefore having to struggle on state benefits – due to involuntary redundancy, accident or sickness can happen to anyone. It does not discriminate and can strike anyone at any time.



Therefore, if you are in full time employment for more than 16 hours a week and you have a mortgage, then taking out insurance against the financial ramifications makes sound sense.



Despite what the press says, it doesn’t have to be expensive to take out this kind of insurance, and nor do you have to take out a policy with your current mortgage lender. This means you are free to shop around to get a policy that offers you comprehensive protection without a high price tag!



If you are looking for mortgage protection insurance, then do not automatically accept the first quotation you get – premiums can vary wildly, as can the terms of the policy and the benefits.



Do your research – the internet is a quick and easy way to compare policies – and then make a decision from there.


Article Source: http://www.articledashboard.com





Jason Hulott is Business Development Director of Protection Insurance. Protection Insurance is an internet based insurance business dedicated to getting consumers the very best insurance rates and the best products. Our product portfolio includes Mortgage Insurance





Spam emails More free articles

Related articles


  1. Factors That Affect Your Car Insurance Premium
  2. Seven Steps to Filing Your Car Insurance Claim
  3. Which Car Should You Own To Keep Your Insurance Rates Most Affordable?
  4. Is Your Auto Insurance Company Rated?
  5. Term Life - Who Needs It?
  6. Save Big Bucks on Your Car Insurance
  7. Senior Health Care Insurance
  8. What Is Term Life Insurance?
  9. What Is Renter's Insurance Really All About?
  10. What Is Permanent Life Insurance?
  11. How Do I Calculate How Much Life Insurance I Need?
  12. How Much Renter's Insurance Do I Need?
  13. What Do You Mean My Auto Insurance Policy Doesn't Cover This!!
  14. How Do I Lower My Auto Insurance Premiums?
  15. Homeowners Insurance Coverage
  16. What Is Health Insurance?
  17. A Few Things Everyone Should Know About Disability
  18. Insurance and The Engineer
  19. Insurance Claim Handling Online - TPA Adjuster System
  20. Cheap Car Insurance
  21. Choosing Buy-To-Let Property Insurance
  22. Cheap Health Insurance Rates and Personal Health Insurance
  23. Choosing Affordable Health Insurance For Children
  24. Insurance For The Self Employed And Those Seeking Health Insurance
  25. Insurance Credit Scoring: An Ethical Issue
More related feeds
After the Event Insurance
Mortgage Payment Protection Insurance - What You N · Mortgage Income Protection Insurance · Is Mortgage Repayment Insurance Worth the Cost? The 'Contents Holdback' Trap and How to Escape It · Contractors Insurance Explained ...

Selling Your Insurance Agency Or Book of Business!
Mortgage Income Protection Insurance · Is Mortgage Repayment Insurance Worth the Cost? The 'Contents Holdback' Trap and How to Escape It · Contractors Insurance Explained · Does Your Business Need Shop Insurance? ...

MPPI explained
The insurance will then continue to provide you with a monthly cash sum for between 12 and 24 months, again, depending on the terms laid out by the individual mortgage insurance policy as how the long the benefits will pay out will ...

Getting the right income payment protection insurance | News Section
The money you get from the income payment protection insurance can be used for whatever purpose you wish, from maintaining rent or mortgage repayments to paying for fuel and food or even clothing. Waiting periods ...

Mortgage Payment Protection Insurance Explained
Mortgage payment protection insurance is taken out in order to safeguard the possibility that you could come out of work due to an accident, long term illness or through unforeseen unemployment. The cover will usually pay out for up to ...

Mortgage Insurance explained
So, what is mortgage insurance? It is a product whereby should you be unable to meet your mortgage repayments due to being made involuntarily redundant or due to being able to work because of sickness or maybe an accident - then it will ...

Home Refinancing Is Up In The Triangle - Wake Forest - MyNC.com
“It's all credit score driven,” explained Pruitt. That why she tells customers that it's very important to keep your credit scores as high as possible. Pruitt said that’s because mortgage insurance companies have changed their ...

subprime refinance mortgage home loans: California Subprime ...
California Subprime Refinance Explained. The housing market in LA appears to be contrary to the trend in the rest of the state and the average price growth. Thus, although many experts believe that the reduction will affect all ...

California Earthquake Would Accelerate U.S. Mortgage Meltdown ...
The “Annual Global Climate and Catastrophe Report: 2008” highlights that the lack of mandatory earthquake insurance in the state of California would result in high levels of mortgage defaults should an earthquake occur. ...

Common Mortgage Terminology Explained
Mortgage Broker - One who receives compensation for the work of bringing a buyer to a lender for the purpose of completing a loan arrangement. Mortgage Insurance - Money paid on a regular basis for the purpose of insuring a mortgage on ...