Assurant Solutions has launched a new mortgage payment protection insurance (MPPI) product with age ...
Assurant Solutions has launched a new mortgage payment protection insurance (MPPI) product with age banding.
Under the new policy clients are split into age brackets of approximately four years, with the first band starting at 18-24 and subsequent bands going up to 60-64. The provider claims that employing such a scheme will mean that 18-24-year-olds can save up to 35% on a traditional flat-rated MPPI product.
The policy also provides options for accident, sickness and unemployment cover, 30 or 60-day excesses, and a three-month payment holiday. Trials were completed last month and the product is now available to quote.
