What is a Mortgage Protector Plan?
A Mortgage Protector Plan helps you pay your mortgage when you can’t work.
No-one knows what lies ahead, but we do know that accident or sickness can strike at any time. When it does, it could leave you unable to work and keep up with your mortgage repayments.
With the Mortgage Protector Plan, you get the peace of mind knowing that if you’re unable to work due to accident or sickness, you’ll receive a monthly cash lump sum.
This money can be used to pay your mortgage and ensure you don’t fall behind. Your home may be repossessed if you do not keep up repayments, so it’s vital you’re able to carry on paying, even when injury or illness strikes. It’s a simple and effective policy that anyone with a mortgage needs to consider.
So why put yourself at risk? Take out a Mortgage Protector Plan today and start protecting the important things in your life.
The Mortgage Protector Plan pays you a monthly cash lump sum if you’re unable to work due to accident or sickness.
- Accident and sickness benefit - up to £3,000 a month
- Hospitalisation benefit - up to £300 a day for up to 30 days per policy year
- Accidental death benefit - up to £36,000 lump sum
- Joint cover option – for two people to be covered under one plan
- Waiting period – 30, 60, 90 and 180 days (this is the amount of time you must be unable to work before benefit is paid)
- Benefit period – 1 or 2 years (this is the amount of time that benefits will be paid for)
Who is eligible to join?
If you (and your partner if joint cover) are:
- Between the ages of 18 and 64 inclusive
- Resident in the UK, Isle of Man or Channel Islands
- Have a residential mortgage
- Able to provide a 2-year medical history from your GP upon claim
- Actively working: employed for a minimum of 16 hours per week, or self-employed
What’s not included?
- Mortgage payments on buy-to-let or second or holiday properties
- Sickness in the first 60 days
- Pre-existing medical conditions
- Selected back conditions
- Stress and depression
- Deliberate actions such as criminal activity
- Drug or alcohol use
- Professional sports people
- Selected high risk sports
How do I make a claim?
Call the claims team on 0330 018 2321.
As with all APRIL UK plans, your clients will receive discounted Bupa Health Assessments when they take out a policy - at no additional cost. They'll get 25% off a range of tailored medical assessments, as well as expert guidance on how to improve their health.
The plan in action
Meet the Thomas family. Mr & Mrs Thomas are in their 30s, and their children are just about to start nursery. Mr Thomas is self-employed, running his own business, and Mrs Thomas is employed part-time. They’ve just moved into a larger house to be closer to the new school, and have remortgaged. Their repayments have increased to £800 a month.
While the family now has their dream home, Mr Thomas is concerned about how they’ll pay their mortgage if he’s unable to work due to an accident or sickness. He decides to take out the Mortgage Protector Plan. Mr Thomas is delighted when he finds out that he can protect his mortgage payments for less than £1 a day*. According to Mr Thomas, taking out the plan is one of the best decisions he’s ever made. After all, it’s difficult to argue with spending less than £1 a day on cover.
* Mortgage Protector premium based on an individual policy, aged 41-50, monthly benefit of £800, 30-day waiting period, 12-month benefit period.