Mortgage Payment Protection

Does anyone know what the best company/product is in relation to mortgage payment protection. My boyfriend is currently being laid off and I want to get mortgage payment protection on my half of the mortgage in case the worst happened and I was laid off too.
I know I can't get his half covered as he's already aware of the fact that he's being laid off.
What reputable company is good for this? I want to be sure that it's reliable and I won't have an uphill battle in claiming if the worst did come to the worst. Also what kind of price are you looking at per month?

As far as I am aware there aren't many companies that are offering that 'unemployment' income protection.

I am only familar with the product that Assurant Solutions have on the market.

The cover pays out a monthly benefit if you are unable to work due to accident, illness or involuntary unemployment.

In relation to their specific mortgage payment protection, it offers cover up to 125% of the mortgage repayment. This extra 25% is to cover associated mortgage and property related expenses such as home insurance, utility bills or life insurance premiums.

I'm sure if your boyfriend is joint holder of the mortgage, it will only allow cover for half.

Now, I'm personally not familar with their products, so the above is only what I'm aware of.

Thanks

J

From what I was told by AIB when I applied for my mortgage, you only get offered mortgage protection at the start of the mortgage. Its not something you can get when times look to be taking a turn for the worst.

Hi mmzz,as a broker we deal with a company called Cardiff Pinnacle who cover against sickness & accident and redundancy.. your right about the fact that your boyfriend cannot be covered at this stage. Give any broker a call and they should be able to quote you for this product if they have access to it!

byrnsey09 thanks a million. That's the company I had heard of when trying to research it a bit. I'll phone my broker later. Can you tell me if they're reliable? Do they make it very hard to claim?

Over the last few months, their criteria has changed a bit and prices have got more expensive as so many people are taking it out and I suppose their claims have probably increased. To be honest, we haven't had a client who has had to claim but as far as I know, they are v. reputable! The price is approx 6.39 per every 100 euro of benefit you want covered!

I have mortgage redudancy protection with Cardif Pinacle, took out policy in 2004, and I lost my job in Oct 08. They have paid 70% of our mortgage since Nov 08 and will do so for 12 months if I remain unempolyed. Found them ok to deal with, not incredibly efficient & took a while to get claim sorted, but since then have no probs with them.