What are the difference between income protection insurance and loan payment protection insurance and mortgage payment protections insurance?
Income Protection Insurance: Covers a percentage of your income and is paid directly to you and you choose how to spend it. It can provide for any loan or mortgage repayment, household bills such as rent, credit cards, school fees, gas and electricity and removes the need for costly separate cover. It requires just one policy for your whole working life and the insurance premium will not increase according to age for the duration of the policy. Mortgage Payment Protection Insurance (MPPI) and Loan Payment Protection (PPI): Covers only your loan or your mortgage repayment. It rarely makes provision for your extra monthly outgoings although some mortgage protection policies will additionally cover associated mortgage costs. Generally you would require a new policy with each new mortgage or loan you obtain so pricing and acceptance could then be affected over time by your health and your age. WORKING OUTSIDE THE UK If you are working outside the UK, you will not receive any monthly benefi
