The cost of insurance which will provide a monthly income in the event that the policyholder is made redundant or becomes sick or has an accident is soaring. Of course it’s not because more people are becoming sick or having accidents – it’s because unemployment in the UK is now forecast the rise to 3 million by the end of 2009.

Insurance companies are now running away from the increased business risks in these types of policy by either withdrawing from the income protection market or charging steeply higher premiums. And some insurers are introducing new policy conditions which make it more difficult for the policyholder to make a valid claim.

If you are thinking about income protection insurance, especially if you want insurance that will pay your mortgage if you are out of work, then you must start the policy before you are aware of any threat to your job - otherwise your cover will be automatically invalidated.

And we have seen on this web site a big increase in visitors searching for Mortgage Payment Protection Insurance and Income Protection insurance.

Through this site a 35 year old man or woman can get cover for £1,000 a month payable for up to 12 months for a premium of £40 a month. It’s the same price for both Mortgage Payment Protection Insurance and Income Protection insurance. A similar policy with Abbey Payment Care would cost £60.

With unemployment forecast to surge and mortgage lenders predicting that there will be 75,000 home repossessions in 2009 (that’s three times the number in 2007), we think it’s time to get insured before it’s too late!

For further information about Mortgage Payment Protection Insurance click on this link https://www.life-assurance-bureau.co.uk/mortgage-payment-protection/

For information about Income Protection Policies use this link https://www.life-assurance-bureau.co.uk/income-protection/

Also see what the Financial Services Authority says about Payment Protection Insurance by following this link: https://www.moneymadeclear.fsa.gov.uk/news/product/ppi/payment_protection_insurance.html