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The payment protection sector of which mortgage payment protection is a part has come under fire due to wide spread mis-selling and is... Mortgage payment protection insurance is one of a family of payment protection policies that can be taken out to safeguard against the fact that you might find yourself out of work due to accident, prolonged sickness or unemployment. It can be a valuable product but it is a complicated one and one that should be given some serious thought. The payment protection sector of which mortgage payment protection is a part has come under fire due to wide spread mis-selling and is still under review, the latest to be fined by the Financial Services Authority was a mortgage company and this has done nothing to bring the faith back to the sector. However providing it is taken out with understanding it can be a very valuable product that could make the difference between you struggling to make your mortgage repayments each month and eventually losing your home or keeping it. When bought correctly and the product suits your circumstances mortgage payment protection insurance would give you a monthly income which would enable you to continue making your repayments and therefore not have to worry about losing your home to repossession. The insurance would begin to payout after you have been out of work, usually for 30 days or more and would provide you with a tax free sum of money that would continue to pay out for up to 12 months and in some cases with some policies for up to 24 months. While mortgage payment protection insurance seems like the ideal 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 stop you from claiming and it is essential that you understand these and are sure that a policy would be suitable for you and your circumstances. mis sold ppi claims