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Mortgage payment protection insurance (MPPI) |
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Mortgage payment protection insurance (MPPI)An MPPI policy pays your mortgage for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. It should provide enough income to cover all your monthly mortgage expenses. If you have a repayment mortgage, this should be your capital and interest repayment and if you have an interest-only mortgage, the MPPI should cover your interest payment as well as your normal monthly contribution to the investment vehicle that will repay your loan.Mortgage payment protection insurance (MPPI) Similar MatchesNoneconomic objectives argument for protectionNoneconomic objectives argument for protectionThe view that a restriction on imports may serve a purpose outside of conventional economic models. Unless that purpose is itself the restriction of trade, then this is a second-best argument, since changes in output, consumption, etc. can be achieved at lower economic cost in other ways. Externalities argument for protectionExternalities argument for protectionThe (second best) argument that an industry should be protected because it generates positive externalities for other industries or consumers. Downside ProtectionDownside ProtectionGenerally used in connection with covered call writing, this is the cushion against loss, in case of a price decline by the underlying security, that is afforded by the written call option. Alternatively, it may be expressed in terms of the distance the stock could fall before the total position becomes a loss (an amount equal to the option premium), or it can be expressed as percentage of the current stock price. Mortgage protectionMortgage protectionTerm assurance to cover the repayment of a mortgage in the event of the death of the mortgagor during the period of the loan.In the case of a repayment mortgage the capital sum outstanding is gradually reduced over the term of the loan (albeit slowly during the initial years when the majority of the repayments are paying the interest) so that decreasing term assurance would be incorporated in the policy. For an endowment mortgage where the sum assured and the death benefit are at least equal to the amount of the loan throughout the term of the loan, level term assurance would be apt. Call protectionCall protectionA feature of some callable bonds that establishes an initial period when the bonds may not be called. Further Suggestionscourt of protectionloan protection policy Actual protection rate Building Societies Investor Protection Scheme Retirement Protection Act of 1994 Effective rate of protection Contingent protection Second-best argument for protection Intellectual property protection Protectionism Environmental protection argument for a trade intervention Payment protection insurance Patriotism argument for protection Domestic distortions argument for protection Deposit Protection Scheme Exchange rate protection National defense argument for protection Marine Mammal Protection Act Self-sufficiency argument for protection Tariff protection Cultural argument for protection Balance of payments argument for protection Import protection Protectionism Content protection |
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