ASU mortgage payment protection insurance plan
MONEY MARKETING - 1ST OCTOBER 2002
Burgesses:
IncomeSAFE
Type:
Non-discriminating income payment protection insurance policy in the event of accident or illness.
Maximum benefit:
Up to 75 per cent of earnings subject to a maximum of £2,500 a month.
Benefit payment term:
12 or 24 months
Deferred period:
30 days
Premium:
12 months’ cover – class one occupations - £1.50 per £100 of benefit, class two - £2.25 per £100, class three -£3 per £100, class four - £4.50 per £100. 24 months’ cover – class one occupations - £2 per £100 of benefit, class two - £3 per £100, class three £4 per £100, class four - £6 per £100.
Commission:
Initial 20 per cent, renewal 20 per cent.
