ASU mortgage payment protection insurance plans
MONEY MARKETING - 11TH FEBRUARY 2002
Burgesses:
HouseSafe
Type:
mortgage payment protection insuranceand income payment protection insurance policy offering six months’ free unemployment cover.
Maximum benefit:
Whichever is the lower of £1,500 or 75 per cent of gross monthly income.
Benefit payment term:
For free unemployment cover – six months. If cover continues after free initial period – 12 months.
Deferred period:
30 days
Premium:
Depends on level of cover required for first six months, mortgage payment only – unemployment cover if free, unemployment & disability cover - £2 per £100. for additional income protection: unemployment cover - £3.50 per £100 of cover , unemployment & disability - £5.50 per £100 of cover.
Commission:
Initial 20 per cent, renewal 20 per cent.
