Paymentshield is launching a mortgage payment protection insurance product in late summer, which is designed to incorporate the benefits of income protection.
The product aims to tackle the common problems of MPPI, including the fact it only provides cover for one year, it is the same price for all age groups, and accident, sickness and unemployment (ASU) benefits are bundled together. Paymentshield’s new product will provide ASU cover for longer than one year and the premiums will reflect the fact older people have a greater risk of becoming ill. In addition, it will be an unbundled product which enables someone who has accident and sickness cover through work to opt for unemployment cover only, with “more sophisticated” pricing. Chris ...
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