How much is mppi per year?

6
Posted 15th Jun
How much do you pay for mortgage payment protection insurance?

I am yet to discuss this with my mortgage advisor I just wanted a heads up.

Also has it gone up significantly since people started getting ppl claims?

Cheers.
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£0.00 because I don't have a mppi
I pay £23 per month for a £108k mortgage (house is worth alot more). If i die or become terminally ill it gets paid off plus 10% of remaining balance for funeral costs. Example, if i die with 75k left it gets fully paid off plus an extra 7.5k in cash for funeral costs etc.

I also pay £20 a month for income protection, if i cant work through injury, wages are covered for 75% of current wage for 2 years. Plus i get access to loads of private medical stuff as its in the interest of the provider to get me back to work ASAP so they can stop paying me. Cant claim for first 8 weeks of being off though which suited my needs.

All via my broker but with Aviva life.

Hope this helps.
Edited by: "ArcadeAssassin" 16th Jun
ArcadeAssassin16/06/2020 07:38

I pay £23 per month for a £108k mortgage (house is worth alot more). If i d …I pay £23 per month for a £108k mortgage (house is worth alot more). If i die or become terminally ill it gets paid off plus 10% of remaining balance for funeral costs. Example, if i die with 75k left it gets fully paid off plus an extra 7.5k in cash for funeral costs etc. I also pay £20 a month for income protection, if i cant work through injury, wages are covered for 75% of current wage for 2 years. Plus i get access to loads of private medical stuff as its in the interest of the provider to get me back to work ASAP so they can stop paying me. Cant claim for first 8 weeks of being off though which suited my needs. All via my broker but with Aviva life. Hope this helps.



So if I am reading this right you pay £43 per month just incase you have difficulty paying your mortgage which is only £108k? That seems extremely expensive in my opinion
I pay £20 a month which is a set £200k life insurance policy for the term of the mortgage & also includes wage cover for not being able to work up to 2 years which kicks in after a month. Thats with royal london
MonkeyMan9016/06/2020 19:38

So if I am reading this right you pay £43 per month just incase you have …So if I am reading this right you pay £43 per month just incase you have difficulty paying your mortgage which is only £108k? That seems extremely expensive in my opinion


I suppose so yes. Although the alternatives would be either selling the property if I were to die/become critically ill, instead of it remaining in the family or if I was injured in some way (not just at work but anywhere) and couldn’t pay the bills then what???

The £20 covers the mortgage to be paid off in the event of the worst.

The £23 covers my wages. All my bills comes to about £800 a month (that’s not just necessarily bills like mortgage, council tax etc, but things like mobile/tv/gas/food etc) but I’m self employed earning more than that. If I can’t work through illness or injury then this cover kicks in and pays me about £1100 a month for the duration of the illness/injury, I also get all the private medical stuff to get me back to work, worldwide experts, jumping queues for test and such like.

It’s peace of mind really and to be honest I don’t see it as expensive and more of a comfort to know it’s there. I also work at heights and in sometimes condemned buildings so the risk of injury factor did put the price up a bit.
ArcadeAssassin16/06/2020 21:26

I suppose so yes. Although the alternatives would be either selling the …I suppose so yes. Although the alternatives would be either selling the property if I were to die/become critically ill, instead of it remaining in the family or if I was injured in some way (not just at work but anywhere) and couldn’t pay the bills then what???The £20 covers the mortgage to be paid off in the event of the worst. The £23 covers my wages. All my bills comes to about £800 a month (that’s not just necessarily bills like mortgage, council tax etc, but things like mobile/tv/gas/food etc) but I’m self employed earning more than that. If I can’t work through illness or injury then this cover kicks in and pays me about £1100 a month for the duration of the illness/injury, I also get all the private medical stuff to get me back to work, worldwide experts, jumping queues for test and such like. It’s peace of mind really and to be honest I don’t see it as expensive and more of a comfort to know it’s there. I also work at heights and in sometimes condemned buildings so the risk of injury factor did put the price up a bit.


If you're self employed then disregard my comment I don't blame you if that's the case.
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