ASU Mortgage protection plan
MONEY MARKETING - 14TH OCTOBER 2002
Burgesses:
Securityfirst
Type:
Plan to cover the risks of unemployment or redundancy for new and existing mortgage borrowers.
Maximum benefit:
£1,500 a month or 65 per cent of gross earnings.
Benefit payment term:
Up to 12 months
Deferred period:
30 or 60 days.
Premium:
30 days’ deferred period – 5.5 per cent for unemployment and disability cover, 3.5 per cent for unemployment-only/disability-only cover (single or joint cover), 11 per cent for unemployment and disability cover, 7 per cent for unemployment-only/disability-only cover. 60 days’ deferred period – 4.5 per cent for unemployment and disability cover, 3 per cent for unemployment only/ disability-only cover, (single or joint cover), 9 per cent for unemployment and disability cover, 6 per cent for unemployment-only/disability-only cover.
Special offers:
Three months’ free cover for all mortgage borrowers, 25 per cent additional free cover for lifetime of policy, free policy transfer from existing policies.
Offer period:
For lifetime of policy.
Commission:
25 per cent of premium.
