As safe as houses?

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MPPI, although often the subject of criticism, is sold more frequently than any other type of mortgage protection. Adele Burton asks whether it is a product IFAs should still be recommending

Mortgage payment protection insurance (MPPI) is one of the most commonly sold forms of mortgage protection and one that the Government is actively encouraging homeowners to buy as State support continues to dwindle. According to the Council of Mortgage Lenders (CML), at the end of December 2000, 21.1% of mortgage holders had MPPI ' a total of 2.4 million policies. However, if the Government is to reach its target of 55% of mortgage holders by 2004, there is still a long way to go. Gareth Riding, marketing director at Payment Shield, says: 'As a nation of homeowners, mortgage borrowers...

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