Quick Guide to Mortgage Payment Protection Insurance

What is Mortgage Payment Protection Insurance ?

Mortgage Payment Protection Insurance provides you with a monthly sum of money to help you meet your monthly mortgage repayments including other monthly mortgage related costs such as life assurance, home insurance or pension contribution (if you have a pension mortgage) if you are unable to work through accident, sickness or involuntary unemployment. * Please refer to Policy Terms and Conditions for full cover details.

With our mortgage protection insurance no medicals are required and sporting activities or individual habits such as smoking do not affect your premium or your eligibility.

The monthly benefit is a proportion of your net monthly income - 75%, or 110% of your total mortgage payment, whichever is the lesser, but subject to a maximum benefit limit of €2,000 per month. You may choose any proportion of that amount to be covered and you may also select the benefit period you require cover for. This flexibility allows you to choose the cover that best suits your personal circumstances. The usual maximum benefit period is for 12 months but you may select either a 3 or 6 month benefit period if this is more appropriate for your needs.

The monthly benefit is paid directly to you and is tax-free and will allow you to continue to make your mortgage payments until you are able to return to work.

Kidd Insurances Mortgage Payment Protection Insurance is a stand-alone policy which can be arranged at any time and can remain in force even if you change your mortgage provider.

This policy can be combined with income protection for a comprehensive cover solution.