As your monthly mortgage repayments are your biggest outgoing each month you would be wise to do everything in your best interests to protect your finances in the future. Providing that your circumstances meet those of a policy then taking out mortgage cover might be your best option to safeguard against the possibility that you might lose your income and subsequently be unable to meet your mortgage repayments.



Mortgage cover - or mortgage payment protection insurance cover as it is also sold under - is taken out by those who have mortgage repayments to keep up and who are in full time work. If you were to come out of work and lose your income then you are at risk of losing your home if you cannot continue to meet your mortgage repayments.

Providing your circumstances are right for a mortgage insurance policy then this could be your lifeline and give you peace of mind. When taken out correctly mortgage cover can provide you with a monthly income each month, after you have been out of work for at least 30 days and would continue for up to 12 months in the majority of cases although some providers extend this to 24 months.

A specialist provider is always the easiest way to get several quotes so that you can ensure you get the cheapest whilst obtaining a quality product, but you do have to do a little of the work yourself and make sure that the exclusions wont stop you from claiming. Some of the common exclusions include being retired, self-employed, only in part time work or suffering from a pre-existing medical condition.

Some of the most common reasons for people coming off work are also excluded by most mortgage cover insurance policies such as back problems and problems relating to stress, so always ensure you read the small print before taking out mortgage cover.