Mortgage protection insurance companies

Goodmortgageprotection is one of the mortgage protection insurance companies that are available to customers of B. Portwood & Co Ltd.

B. Portwood & Co Ltd offer a range of mortgage protection insurance companies who offer products that meet the demands and needs of those people who need cover for their mortgage protection and who are based in the UK.

Other than Goodmortgageprotection, we are able to offer rates from the following mortgage protection insurance companies.

Goodmortgageprotection :
- Rates start at £2.45% for unemployment only cover, £2.45% for disability only cover (accident and sickness) or £3.95% for combined accident and sickness cover - making it one of the most competitive mortgage protection insurance companies.
- Maximum benefits are 65% of your gross income (including other benefits) or your mortgage payments + 25% (to cover endowments, life, etc)
- Benefits are payable back to day one for 12 months with no initial exclusion period for new mortgages/ re-mortgages or transfers
- 3 Months free cover for all customers
- These are the reasons why we consider this as one of our mortgage protection insurance companies
Cleva Protecta - available from our main ASU page
- Rates are more expensive £3.5% - unemployment or disability only, £5.5% combined ASU cover. BUT
- Maximum cover is £2,000 per month - substantially higher than Goodmortgageprotection
- Maximum benefits are 75% of your gross income.
- You can include up to £1,500 per month additional cover to meet other expenses (at a slight premium)
- These are the reasons why we consider Cleva Protecta as one of our mortgage protection insurance companies
Goodincomeprotection
- This is our sister site.
- Offers income protection insurance i.e you do not need a mortgage to select the policy from this site.
- Benefits payable for 12 months on a back to day one basis
- Limited to 50% of your gross income - less other benefits
- 120 day initial exclusion period.
- Not suitable for people in IT industry or certain other high-risk occupations.
- We consider this to be a valuable addition to our mortgage protection insurance companies.
Other mortgage protection insurance companies.
- We can offer a product that provides 24 month benefits, on a back to day one basis where you can select up to twice your mortgage payments as benefits.

Meaning of Terms

Benefit Period

This is the length of time (or the number of payments) during which the monthly benefit selected will be paid out. Our policy offers 12 months benefit period - which should be sufficient but if you contact us we may be able to find a policy that will cover you for up to 24 months benefits. Please call B. Portwood & Co Ltd on 01388 607105 and ask us about our mortgage insurance policy.

'Back to day one'

Mortgage insurance policies do not normally pay benefits immediately - there is a period at the start of each and every claim during which payments are not made. It is only after you are unemployed for longer than this period that benefits will be paid. Some policies have an 'excess period' which means that you will not be paid for the first 30, 60, 90 or whatever days that you are out of work. Our policy, however is on a 'back to day one' basis that means that providing you are out of work for at least 30 days, you will qualify for every single day (during the benefit period) that you are unable to work. This is a major feature of our mortgage protection insurance companies.

Free Cover

Mortgage insurance policies are normally set up on a monthly basis - each month you pay a fixed amount, based on the sum insured - which relates to your mortgage payments. We appreciate that it can be a lot of trouble to switch policies so that we have arranged that, whether you are transferring policies, or just taking out a new policy, our Goodmortgageprotection mortgage insurance company will provide you with 3 months free cover at the start.

Initial Exclusion Period

One reason why people take out mortgage insurance is that they suspect that they may suffer unemployment or redundancy in the near future. Obviously insurers don't want to be in a position where excessive claims may occur so that they impose an initial exclusion period. If unemployment or redundancy is announced during this period then no benefit would be paid. If this exclusion was applied for transfer of policies then we would not really recommend such a transfer. Income protection policies have longer initial exclusion periods and only Goodmortgageprotection of our mortgage protection insurance companies has no initial exclusion period.