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The payment protection sector of which mortgage payment protection is a part has come below fire due to wide spread mis-selling and is... Mortgage payment protection insurance is 1 of a family of payment protection policies that can be taken out to safeguard against the reality that you may well find your self out of function due to accident, prolonged sickness or unemployment. It can be a beneficial product but it is a complicated one and one that need to be given some serious thought. The payment protection sector of which mortgage payment protection is a part has come below fire due to wide spread mis-promoting and is still under review, the latest to be fined by the Monetary Services Authority was a mortgage firm and this has done nothing to bring the faith back to the sector. Nevertheless offering it is taken out with understanding it can be a quite beneficial item that could make the difference among you struggling to make your mortgage repayments each month and sooner or later losing your home or keeping it. When purchased properly and the item suits your circumstances mortgage payment protection insurance coverage would give you a monthly earnings which would allow you to continue making your repayments and consequently not have to worry about losing your property to repossession. The insurance would start to payout right after you have been out of function, typically for 30 days or much more and would offer you with a tax free sum of money that would continue to pay out for up to 12 months and in some situations with some policies for up to 24 months. Although mortgage payment protection insurance seems like the perfect solution, it is a lifeline for those who are eligible to claim but its not a product that is cut and dry and it isnt suitable for all circumstances. There are exclusions in a policy that could quit you from claiming and it is vital that you understand these and are confident that a policy would be appropriate for you and your circumstances. ppi claims calculator