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Since 2006 we have helped 339,597 people compare Protection Insurance quotes.
We would love to do the same for you...

Now’s the time to protect your loved ones - Prices have never been cheaper.

Let's help guide you through the options and find the best deal for your circumstances.

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Since 2006 we have helped 339,597 people compare Protection Insurance quotes.
We would love to do the same for you...

Payment protection insurance vs mortgage payment protection insurance - what’s the difference?

The task of picking out the right protection insurance policy for your needs can undoubtedly be difficult - as our own team knows full well! A lot of the reason for that is the confusion that can arise due to the various terms bandied about that might sound similar, but don’t necessarily indicate the same thing.

Consider, for example, payment protection insurance, or PPI.

The very mention of this controversial form of insurance might bring to your mind the mis-selling scandal of several years ago - so why do there seem to be so many brokers online offering ‘mortgage payment protection insurance’? Are they selling the same product that was massively problematic to so many people some years back?

The short answer is no - MPPI and PPI are not the same

Mortgage payment protection insurance - also often referred to as simply ‘mortgage protection insurance’ - and PPI do have something common in that they are both types of income protection.

Although of course, ‘mortgage protection insurance’ is a broad term, covering different types of cover such as income protection, critical illness cover, and life insurance, as the relevant part of our own website at QuoteLifeCover explains.

As the Financial Conduct Authority (FCA) website outlines, PPI tended to be sold with products that someone was required to make repayments on, such as a mortgage, loan or credit card. It was meant to cover repayments in certain circumstances where the policyholder was rendered unable to pay themselves - for instance, or in the event of them being made redundant or illness taking away their ability to work.

The much-publicised PPI scandal revolved around the discovery that this type of insurance was frequently mis-sold - leading to tens of billions of pounds being paid back to those affected. Thankfully, ever since that scandal, both PPI and MPPI have been subject to restrictions to make sure there is no repeat of the controversy.

The differences to look out for between PPI and MPPI

While both PPI and MPPI are designed to help the holder of the policy to pay off certain debts, one of the key differences is that PPI is paid directly to whoever you have borrowed from, whereas if you are an MPPI policyholder, the payout will be directly to you.

Then, there’s the fact - as indicated by their respective names - that while both MPPI and PPI cover just one form of income, in the case of PPI, this can be credit card or loan repayment, with MPPI being specific to mortgage repayment.

Allow us to help you make sense of the world of payment protection

Mortgage protection insurance, then, is emphatically not the same thing as payment protection insurance. In fact, depending on your needs, it could be a policy that you are very thankful for having purchased, given that mortgage repayments are, after all, the biggest monthly outgoing for many of us.

Nonetheless, it is also crucial to be well-informed on your options, so that you can be sure of only buying the right policy for your situation. Give our UK advisers a call today on 0800 316 6917, and we would be delighted to help lay out those options for you, without being ‘pushy’ or even charging you a thing for our quotation service, should you wish to take advantage of it.

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Get Insured within 20 Minutes

It is possible to be protected with a life insurance or critical illness policy within 20 minutes provided the insurer does not require a GP report or medical.

A GP report or medical is normally required for large amounts of cover (over £400,000), or if your BMI is over 30, or you have any significant ongoing or past medical issues, or if you are involved in dangerous job or high risk hobby.

Calculate Your Cover

Find out how much cover you might need by using our simple online calculator. It will take into account your outstanding mortgage, any loans or credit cards, your monthly income and how many children you have.

Ultimately the right amount of cover is often a balance between what might be an ideal figure and what you can sensibly afford.

Calculate your cover here

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Read What Our Customers Think of Us

Five Stars (4.9)

Great communication, help and guidance.

All my questions were answered, as I know little on how life cover, critical illness and terminal insurance policies work.

I was given good independent advise, so I could confidently make my choice on what was right for me.

- Denise

Clear, friendly, efficient and prompt service.

No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.

- Ms Shannon

I found the customer service representative very polite and informative and helpful.

I wished some information on life insurance for a mortgage I have applied for.

All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.

- Mrs Severn

Very good professional service.

I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.

- Mrs Cookson

Professional and no-nonsense approach.

Very thorough yet friendly service. Good contact and information one can understand.

- Heather Cronley

A professional customer centric company with the client at the heart of the transaction.

The advisor put me at the heart of the transaction, was professional, gave realistic opinions and suggestions offering me choices in clear terms which I understood.

- Andrew Hughes

Outstanding service and knowledgeable customer service rep.

I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.

Marie was very sensitive when discussing personal circumstances and listened carefully and showed compassion to my details. Marie then said ‘leave it with me and ill get back to you’, within 20 minutes Marie was back on the phone with the quotes as promised and gave me a selection of options to chose from.

Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.

I cannot fault this service and the professionalism I received.

- N Marsden

Excellent Service.

Great service, easy to understand terminology. Everything explained and documented by adviser. Thank you.

- Glenda

The quotation service is provided by an FCA-authorised insurance specialist

Promoted Premiums for 35 year old male (non-smoker) on a 25 year term - September 2022*
Life Insurance: £5/month = £65,371 sum insured
Critical Illness Cover: £10/month = £27,546 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,230 sum insured

 

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