Why choose mortgageprotect insurance?

mortgageprotect is very affordable. Your monthly premiums can be as little as £3 for a £100 of full cover a month^*. But there’s much more to really set us apart:

• it’s all done online and you can get instant cover
• unlike many other income protection or payment protection policies, we don’t discriminate when it comes to your occupation
• if you switch from another provider then we can often drop the initial exclusion period and insure you immediately for unemployment cover (see below)
• you only need to have been working for the past six months to buy mortgageprotect
• the younger you are the less you pay for your premium, to reflect the fact that we know that younger people make fewer claims.

So why not get an instant quote for mortgage payment protection from webmoney now and get mortgage protection in place in an instant?

What can you protect?

We cover your mortgage payments for accident, sickness and/or unemployment. We even allow you to cover related payments too, such as buildings and contents premiums or life cover. So you stay protected.

Excess and exclusion periods

mortgageprotect is flexible. We let you choose the length of your so-called “excess” period – which determines the length of time you have to wait before you can claim. The longer you can wait, the lower the premium is going to be.

For unemployment cover there is an initial exclusion period when you can’t make a claim. This is 60 days if you’re taking out a new mortgage, or 90 days if you’ve taken out mortgageprotect with an existing mortgage. But sometimes we can make an exception when you have switched from another provider (see below for details).

Making a claim

We’ve made claiming with mortgageprotect really straightforward. You can claim if you can’t work due to accident, sickness and/or unemployment once your excess period has elapsed, but you won’t be paid until 30 days after this date. With unemployment cover, you also have to take into account the exclusion periods as outlined above.

What doesn’t mortgageprotect cover?

mortgageprotect does not pay out for longer than a maximum of 12 months per claim.

Nor will mortgageprotect pay off your mortgage or debts should you die. This is not what is has been designed for. But our life cover can help ensure your family doesn’t struggle financially if you’re no longer around.

Like all mortgage payment protection insurance policies, mortageprotect also contains some important exclusions. It will not, for example, pay out for claims you knew you were going to make before taking out the policy or for medical conditions you have sought medical advice about during the last two years.

If you chose the optional unemployment section of the policy, it is also important to realise that unemployment is only covered if it is involuntary. So voluntary redundancy is excluded. Exclusions also apply to casual, seasonal and temporary work.

So, as with all insurance policies, it’s important to read the policy documents before buying mortgageprotect. After all, you’re entering into an important contract and you’ll want to make sure you know exactly when you are covered.

Switching from another provider

Here at webmoney we want to make it as easy as possible for you to switch to mortgageprotect. So if you choose to switch to us from another provider, we’ll try to waive the exclusion period and cover you immediately for unemployment. You just have to satisfy three conditions.

1. your previous insurance has been in force for at least 90 days;
2. you continue under the same policy terms as under your previous insurance; and
3. you have never made a claim on your previous insurance.

^*This rate can be achieved by about 27% of our customers and is based on a person aged 25-29. Our research shows that 27% of people who typically buy mortgage protection fall within this band. It also includes a 30 day excess, with an initial exclusion on unemployment cover of 60 days for new borrowers and 90 days for existing borrowers. Other conditions may apply.