Mult ˜IP' urpose

Professional Adviser

Income protection could be the ideal form of mortgage payment protection for many borrowers, but it may not suit all clients, writes Adele Burton

Income protection (IP) is increasingly being touted as the ideal form of mortgage protection because mortgage repayments are covered until your client resumes work, or their mortgage is repaid. A large part of IP's success has been down to aligning it with mortgage sales, but not every client can benefit from this type of policy. Premiums depend on the type of occupation held by the client, and those classified under a risky category may find premiums extortionately high, perhaps pricing them out of the market altogether. Occupations are usually graded from one to four, with four relatin...

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