Mortgage protection insurance is a life insurance policy that pays off your mortgage if you or your partner die during the term of the mortgage. It runs for the same length of time as your mortgage. There are three main types of mortgage insurance:

Unemployment Only Cover

Unemployment only will cover you if you are made redundant (you also need to be registered with the government as unemployed and you have to be actively seeking work).

Unemployment & Sickness Cover 

Accident and sickness will protect you against accidental injury that stops you working and long-term illness (this will have to be certified by a doctor to claim) while accident sickness and unemployment will protect you against both.

ASU Cover

Accident, sickness and unemployment cover as you can gather covers your mortgage protection is a combined policy and covers you in the instance of any of the ASU occurances and is in place for the lifetime of the mortgage.