British Insurance launches mortgage payment protection cover
At a time when other providers, particularly banks and building societies, are increasing their premiums, restricting cover to certain professions or withdrawing from the market completely, British Insurance is promising an affordable solution for people looking to protect their finances and homes.
It has options for unemployment, accident or sickness or all three, will cover up to £2,000 worth of mortgage payments, including any related expenses such as endowment savings plans and varies its waiting periods between 30 and 180 days.
There’s a ‘back to work assistance’ service and carer cover, ensuring those who have to leave work to care for a family member for up to a year, still receive an income.
A 41-year-old looking to protect mortgage payments of £1000 a month and opting for unemployment-only cover with a 30-day waiting period would pay £38.30 per month, equating to £3.83 per £100 of benefit.
Managing director, Nel Mooy, comments: “Being independent, we have the freedom to offer a wider range of policies and options than traditional providers. This gives consumers more choice and the opportunity to purchase cover that better reflects their lifestyles and needs.
“As well as catering for mortgage-holders, our portfolio provides cover for those renting and in social housing schemes, plus provides a replacement income to pay a broader range of household bills.”
Date: 5th, May, 2010
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