A monthly premium is paid via direct debit. If you find that you are unable to work whilst covered, whether it is due to an accident, sickness or redundancy and decide to make a claim a payment benefit would then be released up to the time you return to work. Subject to the policy agreements.
Your Mortgage payment protection insurance policy will start paying out after a set period of time which is stated in your policy should there be a reason you are unable to work.
The majority of people are reliant on their life insurance to cover all the costs. The main difference here is that some people find it difficult to obtain affordable life insurance due to their age or medical conditions. If this is the case then mortgage payment protection would be the better option to ensure the protection of your family and finances.