Comprehensive cover from Burgesses
FINANCIAL ADVISER - 6TH APRIL 2002
Underwriting agency Burgesses has launched what it describes as the UK’s most comprehensive single premium mortgage payment protection insurance.
Burgesses has launched the single premium mortgage payment protection insurance which offers extended claims payments for up to three or five years.
Maximum Security is underwritten at Lloyd’s and is fully compliant with the Association of British Insurers’/Council of Mortgage Lenders’ standards. It is available to new mortgage borrowers aged between 18 and 65 resident in the UK.
A spokesman for Burgesses said: “This product offers a win-win situation to everyone.
“Brokers get a unique marketing opportunity together with immediate commission of 30 per cent and applicants will be paid for up to five times longer than under most other policies.”
Maximum Security offers full portability between lenders, premium waiver during a claim and the option of additional income protection of up to £250 per month.
Verdict: Patrick Bunton, senior manager at Bath-based IFA London & Country Mortgages, said: “It sounds a good idea as you have a product that goes on that much longer.
“It’s giving people more choice.”
