Burgesses grabs share of jobless cover
POST MAGAZINE - 8TH OCTOBER 2002
Burgesses and Safe&Secure have come up with a new payment protection insurance package to protect people unexpectedly dumped on the dole.
SAS’s principal David Williams said: “Unemployment protection is now almost a necessity for those people still in work.
“A job for life is history and the government is already making loud noises about people making their own provision.”
Underwritten by Lloyd’s, the new Earningsafe product provides a monthly benefit of up to £2,500 or 75% of gross income after a waiting period of wither 30, 60 and 90 days.
Cover is available to all UK residents below retirement age irrespective of whether they are contract workers or owner-directors as long as they work a minimum of 20 hours a week.
Premiums start at £3.25 per £100 of monthly benefit, payable for up to 12 months. This means it costs as little as £26 per month to cover an income of £800.
All benefits are free of tax and discounted when calculating income support and other stat benefits.
Burgesses managing partner Simon Burgess said: “With people’s minds focused on the increased threat of unemployment, our non-discriminatory approach will avoid anti-selection and result in a stable, profitable account for our underwriter.”
