Hi All,
I'm taking out my first mortgage with me wife to be and I'm a little confused about MPPI and how it works. I've read the helpful article on here and have done and online quote with justclick4cover. com.
Firstly, it says benefit required. I assume this is the amount I would like to cover. My mortgage would be £730 a month so i have entered that amount.
I also note that in the policy wording it says that the policy would only cover myself for unemployment ect and that If I want to cover a partner then they have to take out a policy as well.
I earn a lot more than my partner and subsiquently, we could survive if she were to lose her job. If I lost my job though, it would be a different matter, hence the MPPI enquiry.
If I were to lose my job and make a claim, would the cover pay for all of the mortgage? If not, how much would it pay? I earn double what the missus earns so I hope it would be proportionate to that.
Any help appreciated!
I'm taking out my first mortgage with me wife to be and I'm a little confused about MPPI and how it works. I've read the helpful article on here and have done and online quote with justclick4cover. com.
Firstly, it says benefit required. I assume this is the amount I would like to cover. My mortgage would be £730 a month so i have entered that amount.
I also note that in the policy wording it says that the policy would only cover myself for unemployment ect and that If I want to cover a partner then they have to take out a policy as well.
I earn a lot more than my partner and subsiquently, we could survive if she were to lose her job. If I lost my job though, it would be a different matter, hence the MPPI enquiry.
If I were to lose my job and make a claim, would the cover pay for all of the mortgage? If not, how much would it pay? I earn double what the missus earns so I hope it would be proportionate to that.
Any help appreciated!