Mortgage Payment Protection Insurance

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By indexicon

Mortgage Payment Protection Insurance

When you take out a mortgage you pay a monthly payment to your lender every month for the term of the mortgage. Usually the term of the mortgage is 25 years. Can you gaurantee that you will be in work all this time? Of course you can't, and for this reason there is a mortgage protection insurance called Mortgage Payment Protection Insurance which will pay your monthly payments while you are unemployed.

Misha profile image

Misha 4 years ago

Yeah, for some people it is absolutely necessary...

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