Do mortgage protection premiums increase during a recession?
I originally looked for mortgage protection quotes a few years ago but never took out a policy. Went back to get the cover as I've now remortgaged, but have found that the premiums are noticeably more expensive. Is that because the job market is more uncertain?
Premiums for life cover, critical illness cover, and or income protection for accident and sickness do not increase, but the cost of taking out a new unemployment incoem protection policy almost certainly will increase. Also the exclusion clauses may change and the period before which you can make a claim may be increased. | 11.15.10 @ 11:48