Burgess says while a number of insurers provide carer care in MPPI cover, very few individuals realise what they are covered for and fail to claim when they become a carer.
He says: “Over two million people start caring every year and I fear a number of them may have MPPI but do not realise they can claim on their policy. As a result, they’re missing out and suffering financial hardship.
“This type of cover could make a huge difference, so it’s vital people check their policies.”
Burgess says while PPI or MPPI isn’t a long term solution, it does provide a temporary mortgage repayment safety net in that first year and will give people time to sort out their finances.
According to Carers UK, around one in eight adults are carers and over three million of those juggle work with caring. Three in five people will become carers at some time and one in five will have to give up work.