Just as its name suggests, mortgage payment insurance is designed to provide financial security against the risk of a person suddenly losing their income due to incapacity or unemployment. Mortgage payment protection insurance (MPPI) provides a monthly tax free sum which enables the policy holder to continue to meet their mortgage repayments. Certainly, those sudden and unexpected mishaps which can lead to injuries serious enough to keep the policy holder off work for a month or more, or involuntary redundancy, can happen to anyone. And since this can frequently lead to the loss of a normally earned income, the insurance acts by paying out a regular monthly benefit so that the mortgage can be paid.
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