Mortgage Payment Protection Insurance (MPPI)

This is a type of insurance designed to cover your monthly mortgage payment for a specified time, typically one year. For the policy to pay out, you must meet the terms of the cover. This usually means being made redundant, being incapacitated and unable to work because of an accident, or becoming ill.

Since the mortgage payment is usually the biggest financial outgoing most people have, MPPI provides peace of mind that it would be covered for several months if something unforeseen happened. The one-year term is usually the longest you can expect it to pay out for.

This is not a required form of insurance. If you already have savings put by to cover being out of work for any reason for a year, you may not wish to pay the monthly premiums for additional cover. That said, it is worth looking at how much your monthly mortgage payments are. You could cover part of those payments with your savings and get a suitable MPPI policy to cover the remainder. It’s also worth exploring how much redundancy money you would be entitled to if you lost your job. This might be enough to cover your payments for several months. This is particularly important since MPPI policies don’t usually kick in for a few months anyway.

It is very important to read the terms and conditions attached to a policy of this kind. Some cover illness only whereas others cover unemployment. More expensive policies cover these and provide accidental cover as well. Make sure you know what you are buying and what the monthly premium would be. Furthermore, some policies only cover specific medical conditions and exclude others. All the details should be listed in the small print.

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The Mortgage Broker

The Mortgage Broker is an award-winning UK mortgage and protection specialist with decades of experience helping thousands of customers secure suitable and affordable mortgage solutions. Regulated by the Financial Conduct Authority, all advisers are minimum CeMAP-qualified and known for delivering clear, transparent, and expert guidance whether helping first-time buyers, home movers, remortgage clients or those with complex or adverse-credit needs. Recognised as a finalist at the Mortgage Strategy Awards 2025, The Mortgage Broker combines digital speed with human trust, offering access to over 130 lenders and more than 25,000 products. The company’s app, secure client portal and easy-to-use tools make it simple for customers to compare rates, track progress, and stay informed from start to finish. With more than 2,500 verified five-star Trustpilot reviews, clients consistently praise the firm’s professionalism, value for money, and personal service. Reviews highlight the team’s ability to explain complex mortgage and protection topics in plain English, providing support throughout the entire journey. The company’s reputation for knowledge, empathy, and reliability has made it one of the UK’s most trusted brokers, delivering advice that is honest, transparent, and tailored to each individual’s financial goals. Every part of The Mortgage Broker’s service reflects Google’s E-E-A-T principles: Experience, Expertise, Authoritativeness, and Trustworthiness. Its team has decades of hands-on industry knowledge, proven technical expertise, and national recognition supported by awards, media features, and verified customer feedback. As an FCA-regulated firm with a 5-star reputation, The Mortgage Broker stands for no-nonsense advice, common-sense lending, and exceptional customer outcomes — setting the standard for trusted mortgage advice across the UK.