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HTML <html> <head> <title>Mortgage Protection Insurance: Don’t Be Mis-sold!</title> </head> <body> <h1>Mortgage Protection Insurance: Don’t Be Mis-sold!</h1> <div class="info">Author: <a href="author_1_80630.html">Robert Palmer</a></div><div class="body">When you take out your mortgage, your mortgage lender will often try to sell you a mortgage protection insurance policy. The lender gets a good commission on it, so might well put some pressure on you. But don�t be bullied. You don�t have to get it from them, and you don�t HAVE to have it at all. In fact for some people mortgage protection insurance is unnecessary and a waste of money.<br /> <br /> So why might you NOT need mortgage protection insurance?<br /> � If you are in a secure job or a job with a �no redundancy� agreement. This may apply to you for instance if you are employed by a local authority. These agreements are usually made with the Union, so check with your union representative or your human resources department.<br /> � If you will qualify for a healthy redundancy payment if redundancy does happen. If you have been for many years in the job, your payment may well more than cover your 12 months� mortgage repayments.<br /> � If your employers have a good sick pay policy in place. Some employers pay full salary for 12 months, others pay full salary for six months and half for the next six months. <br /> � If you are self-employed. Many mortgage protection insurance policies actually exclude you if you are self-employed, yet some lenders might still try to sell you such a policy! Those which do include the self-employed will only pay out if you have actually gone out of business and can prove it � not if you are just experiencing a thin time. You are probably better to look for an independent protection policy.<br /> � If your employment is casual or seasonal.<br /> � If you have permanent health insurance.<br /> <br /> So make sure you are not misled and not bullied! You are probably better saying �No� to your mortgage lender and seeking out a broker or financial adviser to find out if mortgage protection insurance is really appropriate for you. <br /> <br /> --<br /> Sean Horton is a Director of <a href=http://www.enhancedwealth.co.uk >Enhanced Wealth Limited</a> who offer a specialist <a href=http://www.enhancedwealth.co.uk/asu/index.htm >mortgage payment protection insurance</a> policy</div> <div class="source">Article Source: <a href="http://www.articlealley.com/article_185357_19.html">http://www.articlealley.com/article_185357_19.html</a></div> <div class="author"> <div class="authorOccupation"><strong>Occupation:</strong> Webmaster</div> <div class="authorBio">Webmaster at <a href="http://www.articletrader.com">ArticleTrader</a>.</div> <div class="authorUrl"><a href="http://www.articletrader.com/" target="_blank">http://www.articletrader.com/</a></div></author> </body> </html>
Text Mortgage Protection Insurance: Don’t Be Mis-sold! Author: Robert Palmer When you take out your mortgage, your mortgage lender will often try to sell you a mortgage protection insurance policy. The lender gets a good commission on it, so might well put some pressure on you. But don�t be bullied. You don�t have to get it from them, and you don�t HAVE to have it at all. In fact for some people mortgage protection insurance is unnecessary and a waste of money. So why might you NOT need mortgage protection insurance? � If you are in a secure job or a job with a �no redundancy� agreement. This may apply to you for instance if you are employed by a local authority. These agreements are usually made with the Union, so check with your union representative or your human resources department. � If you will qualify for a healthy redundancy payment if redundancy does happen. If you have been for many years in the job, your payment may well more than cover your 12 months� mortgage repayments. � If your employers have a good sick pay policy in place. Some employers pay full salary for 12 months, others pay full salary for six months and half for the next six months. � If you are self-employed. Many mortgage protection insurance policies actually exclude you if you are self-employed, yet some lenders might still try to sell you such a policy! Those which do include the self-employed will only pay out if you have actually gone out of business and can prove it � not if you are just experiencing a thin time. You are probably better to look for an independent protection policy. � If your employment is casual or seasonal. � If you have permanent health insurance. So make sure you are not misled and not bullied! You are probably better saying �No� to your mortgage lender and seeking out a broker or financial adviser to find out if mortgage protection insurance is really appropriate for you. -- Sean Horton is a Director of Enhanced Wealth Limited who offer a specialist mortgage payment protection insurance policy Article Source: http://www.articlealley.com/article_185357_19.html About the Author: Webmaster at <a href="http://www.articletrader.com">ArticleTrader</a>. http://www.articletrader.com/
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