Mortgage Payment Benefit is designed to pay you a fixed monthly amount
selected by you at the start of the plan, to help towards the cost
of your monthly mortgage payments. This benefit is payable if you
are unable to work as a result of accident, illness or injury. If
you have a joint life plan, then you can select Mortgage Payment Benefit
to cover both of you or just one of you. Payments are paid out after
a deferred period (usually, 4, 8, 13, 26, or 52 weeks, depending on
your occupation and the policy provider). There is a maximum limit
to the monthly amount of cover you can have - usually 60% of your
earnings or 1% of your mortgage.
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