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Protection

MPPI and Redundancy Insurance

The type of policy has been designed to protect your mortgage payments, loan and credit commitments if you are off work for a long time due to sickness or an accident.

Please do not confuse this with PPI Payment Protection Insurance. 

You must be employed for at least 16 hours a week or on a longer term contract or have been self-employed for a period of time.

Many people add unemployment (redundancy) cover to this.

Mortgage Payment Protection and Redundancy Insurance (MPPI)  will pay you the benefit for 12 or 24 months which will give you some breathing to either return to work or find a new job.

Payment Protection Insurance and Short-Term Income Protection is optional. There are other providers of Payment Protection Insurance and Short-Term Protection and other products designed to protection you against loss of income.

For impartial information about insurance, please visit www.moneyadviceservice.org.uk