Goodfellows has launched a product which will provide income protection against unemployment and dis...
Goodfellows has launched a product which will provide income protection against unemployment and disability.
The product, Shelter, aims to provide up to 75% of gross earnings for up to two years and is flexible enough to cover a monthly mortgage payment, rent, loans or bills.
Free transfer and immediate cover are available for clients who switch from another insurer and each applicant can select up to £2,500 per month of benefit. The excess period is 30 days and benefits are payable for either 12 months or 24 months. Unemployment only or disability only cover can be selected or combined.
The monthly premiums are £25 per month to provide £1,000 per month against unemployment costs, if payable for 12 months, or £30 if benefits are to be paid for two years.
There is no commission offered on the product but Goodfellows will pay £20 to homeless charities for each policy sold.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected