Mortgage Payment Protection Insurance (MPPI) is a valuable form of income protection designed to provide financial security in challenging circumstances. If you experience involuntary job loss or are unable to work due to a severe injury or illness, MPPI can step in to cover your monthly mortgage payments.
In the event of a claim, MPPI offers regular payments that can either fully cover your mortgage or provide an additional 125% of your mortgage costs to assist with other essential expenses.
Typically, MPPI policies offer coverage for up to 12 months or until you are able to return to work, whichever occurs first. This ensures that you have a safety net during a difficult period and helps safeguard your home.