Common exclusions within most mortgage protection insurance polices include only being in part time work, being retired, self-employed or suffering from a pre-existing medical condition at the time the policy is taken out. Of course there are many more and these can be found in the small print of a policy and within the key facts and must be understood.
Providing a mortgage protection insurance policy is suitable for your needs then it can be a lifeline if you were to find yourself out of work due to an accident, sickness or through unforeseen redundancy. You can choose at the onset to guard against coming out of work due to accident and sickness only, unemployment only or accident, sickness and unemployment together.
Cover would begin to pay out once you had been out of work, usually for 30 days or more and would then provide you with a tax free monthly income which would continue to meet your monthly mortgage repayments and help you to keep the roof over your head for up to 12 months (and with some providers, for up to 24 months).
Quotes for the cover do vary and it is essential that you get several quotes before making the decision to buy. The easiest way to get several quotes for comparison is to go with a specialist provider and let them shop around for the cover for you; you do however have to read the small print and understand the key facts of a policy before buying if you want to ensure that mortgage protection insurance would work for you.
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Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage protection insurance , loan protection insurance and income protection insurance.
One of the things you can do to reduce your insurance rates is find out if membership to any particular organizations may lower your rate. Sometimes there are discounts for members of educational organizations or things like labor unions. Ask your agent if there are organizations you can join to get discounts.
Always shop several insurance companies so that you know they are giving you the best rate possible. I have seen quotes vary by as much as 30% which can save you hundreds if not thousands on your insurance. Use the internet to find several different companies and call them up!
Most companies offer multi car discounts if you insure more than one car with them, the savings can be huge with these discounts. You may also get lower car insurance if you allow them to write your homeowners, health and life insurance. Just placing all of your insurance policies under one roof can lower your bill significantly.
There are special discounts offered for taking driving courses so check those out as well. If you have student to insure there are many companies that offer discounts if they maintain a good grade point average. Other companies offer big discounts to safe drivers if you go for a long time with no accidents.
You should also check the deductibles for coverage. You may find that you have very low deductibles on collision for example that can be raised to lower your insurance premiums. I personally don't think it is necessary to have deductibles as low as $100 on collision especially if you are a safe driver. Raise them to $500 or even $1,000 and it will save you quite a bit on your premium.
Remember that there are significant reductions for safety items like dual airbags and for antitheft devices, particularly if the system disables the ignition so the vehicle cannot be started.
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Gregg Hall is an author and internet marketing consultant living in Navarre Florida. Find more articles about cars and car care products at www.5starshine.com
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It would be close to impossible to go into a great deal of depth on the various regulations across all 50 states in this short article. However, there is a health insurance information site run by Georgetown University that allows the ability to view and print A Consumer Guide to Getting and Keeping Health Insurance.
Each of these health insurance Consumer Guides are state specific which can save you quite a bit of time in sorting through what does and does not apply to your state of residency. It is important to compare health insurance quotes side by side from top carriers and be able to contrast the pros and cons of each company's policy. Be a knowledgeable consumer when shopping for health insurance and know your rights under state law.
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Joel J. Ohman Free Health Insurance Quotes