Mortgage protection payment insurance (MPPI) can put homeowners in the UK in an "ideal situation", according to a leading financial services company.
Legal & General has said that the cover can give families piece of mind and pay a monthly instalment towards their home loan if bread-winners cannot work due to illness or unemployment.
Joe Wiggins, the firm's PR manager for protection, outline the difference such a policy can make to a homeowner.
He explained: "Most people don't fully appreciate that sick pay from an employer does not last that long.
"Many people suffering a loss of earning would soon find that they would struggle to meet their mortgage payments, so mortgage payment insurance could make a huge difference."
The expert added that people should speak to a financial adviser about MPPI in order to find the best deal available to them.
Research carried out by the Association of British Insurers in 2006 found that around 20 per cent of households have the cover.
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