Your Mortgage Policy Protection Insurance cover


Mortgage Payment Protection Insurance (MPPI) is an insurance policy that covers repayment of your mortgage if you’re unable to make the repayments because of accident, unemployment and/or sickness.

Your policy schedule provides information about how much this insurance has cost you in the past year.

Things you should know about your Optional Payment Protection Insurance:

  • You can cancel your policy at any time and it won’t affect your credit. Cheaper or more appropriate cover may be available from other providers.
  • There are other products that can protect you against loss of your income - for impartial information about insurance, please visit MoneyHelper.

Further details about this cover, including any significant exclusions and limitations, are included in your policy summary. This is provided with your MPPI Annual Review. Copies are available on the relevant link on the right-hand side of the webpage. It’s important that you read your MPPI documentation to check that the MPPI policy is suitable for you.

The reference guide below will help you understand the information contained in your MPPI annual review. You should check that all your details are correct, otherwise your insurance cover may be affected.

MPPI example


  1. Life insurance is not included with this policy.
  2. Where Accident and Sickness cover has been selected, this is the maximum number of months the benefit is payable should you need to make a claim.
  3. Where Unemployment cover has been selected, this is the maximum number of months the benefit is payable should you need to make a claim.
  4. No other benefits are available with this policy.
  5. To be eligible to claim under this policy, you must be in paid work (employed or self-employed) for at least 16 hours per week and have been so for the last 6 months. If your employment status is incorrect, you must contact the Society immediately.
  6. The date of birth recorded on our files for each beneficiary.
  7. The cost of this policy for the period 1 January 2022 to 31 December 2022. If you are a joint policyholder, the cost of the policy for each beneficiary will be shown based on the individual benefit levels. The figure shown takes into account all policy amendments and premium changes during the period 1 January 2022 to 31 December 2022. If your policy started during this period, this figure will reflect the total payments received in this period.
  8. The estimated cost of this policy for either; the remaining term of the mortgage, or until you reach the age of 65, whichever occurs first, calculated as at the 31 December 2022. This is an estimate only as the calculation assumes there will be no change to the current monthly premium. Where there are joint beneficiaries, this is calculated per beneficiary and based on the individual benefit levels.
  9. The average monthly premium, calculated by dividing the total amount of premiums due between 1 January 2022 and 31 December 2022 by the number of months monthly premiums are due, between 1 January 2022 and 31 December 2022 (regardless of whether your mortgage has been in arrears and there are unpaid premiums between these dates). For example, if the total amount of premiums paid in 2022 was £600 and you have been paying your monthly premium each month since March 2022, your average monthly premium would be calculated as £60.
  10. If the monthly premium is £31.75 and the benefit you have chosen is £500 for accident, sickness and unemployment, then the monthly cost per £100 of monthly benefit is £6.35. This includes Insurance Premium Tax at the appropriate rate.
  11. The earliest date recorded on our systems as being the start date of your mortgage.
  12. The remaining term of the mortgage, as at 31 December 2022.
  13. The outstanding mortgage balance as at 31 December 2022. This is the balance outstanding on the mortgage as shown on your recent mortgage statement (excluding interest and other charges.)
  14. The estimated total amount of interest and other charges that will be applied to your mortgage, from 31 December 2022 until the mortgage is repaid. A number of assumptions have been made when calculating this amount. The calculation has used the current interest rate and any interest rate(s) which will apply thereafter, as detailed in your mortgage offer and then assumes no further changes are made to the mortgage or monthly payments before the end of the term.
  15. The sum of the total outstanding balance (13) and the estimated total amount of interest and other charges (14), as at 31 December 2022.
  16. The proportion of the monthly payment made in respect of the mortgage only, this excludes any payments in respect of any insurance policies you may have arranged through the Society.
  17. The total monthly benefit amount covered by the MPPI policy. Where joint beneficiaries are present, this is the total combined monthly benefit amount for all policyholders.

Cancellation rights

You can cancel your Payment Protection Insurance at any time by providing 30 days' notice to us. Simply call 03450 505 072 or write to Mortgage Services at Leeds Building Society,  26 Sovereign Street, Leeds, West Yorkshire, LS1 4BJ. There is no charge for cancellation.

For general enquiries, please call 03450 505 072.