Burgesses’ Maximum Security
BROKERS’ MONTHLY - 1ST MAY 2002
The launch was announced recently by underwriting agency Burgesses, in association with Southport based administrator, Paymentshield of Maximum Security, a new single premium mortgage payment protection insurance with extended claims payments for up to three or vie years, depending upon the option chosen.
Maximum Security is underwritten at Lloyd’s and is fully compliant with the ABI/CML baseline standard for mortgage payment protection insurance. It is available to new mortgage borrowers aged between 18 and 65 who are resident in the UK and have worked for a minimum of 16 hours per week over the past 6 months.
In addition, full cover is available for applicants who are self-employed, shareholding directors, business proprietors and contract workers irrespective of their occupation or the particular industry in which they work.
Maximum Security offers full portability between lenders, premium waiver during a claim and the option of additional income protection of up to £250.00 per month.
