What if your household income decreased, through illness, disability or unemployment?

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    Certain insurance, sometimes known as protection insurance, can pay out in these instances, but they usually only pay out for a limited time and don’t cover all circumstances.

    State benefits may help but most don’t start immediately and usually only last for a fixed period.

    There are many insurances that could protect you in case of illness, disability, unemployment or income decreasabilty :

    To cover mortgage interest repayments :
    Mortgage payment protection insurance (MPPI)

    To be protected if you are diagnosed as suffering from one of the specified illnesses:
    Critical illness cover

    To be paid to help cover your monthly repayments on mortgages, loans, credit/store cards or catalogue payments if you are unable to work:
    Payment Protection Insurance

    Income protection insurance

    To bring financial security for people who depend on you in case you die unexpectedly
    Life insurance