Mon, 29 Aug, 2016
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MPPI 'is important'

Mortgage payment protection insurance (MPPI) is "very important", according to Belgravia Insurance Consultants.

Paul White, a consultant at the firm, stated recently that such a financial product is only suitable for certain people.

Offering an example to illustrate his point, he explained that a police officer would not necessarily require MPPI as should they become ill they would be "extremely well covered" and entitled to "excellent sickness benefits".

Mr White continued to note that someone who is self-employed would "definitely" need such cover as they may not receive the same degree of benefit that someone working for a company would, should they be unable to work.

He concluded that consumers did not have to take out a stand-alone policy and could opt to take out a "cafeteria-style" protection plan which allows them to select particular facets of a plan which best suit individual circumstances.

In related news, according to research by the Association of British Insurers in 2006, roughly 20 per cent of households had MPPI.