Equality mortgage cover offer by Burgesses
INVESTMENT WEEK - 16TH NOVEMBER 2002
Insurance company Burgess is rolling out payment protection insurance cover which offers the same rates regardless of age, occupation or gender.
Known as Equality, it offers individual or joint cover against disability and unemployment provided the applicant has worked for a minimum of 16 hours a week for the last six months.
It also includes cover for sexually transmitted diseases including HIV.
It is available to all UK residents aged between 18 and 65. The policy will pay out the full costs of owning a home or £2,500 a month, whichever is less, after a minimum 30-day waiting period.
To cover a joint mortgage of £500 a month for up to 12 months costs £13.50 per month.
The cover can be bought without a medical examination and is underwritten at Lloyd’s. Policyholders can choose to receive their first monthly benefit payment after either 30, 60 or 90 consecutive days of unemployment or disability.
