Standard Life is launching a new mortgage payment protection product that offers a guaranteed rate o...
Standard Life is launching a new mortgage payment protection product that offers a guaranteed rate option. Mortgage Outlay Cover allows policyholders to choose disability and unemployment benefit, or disability benefit only. In addition to the guaranteed rate option, a reviewable rate is also offered. This remains stable for the first five years of the policy, after which time it is subject to variation. Customers can extend the term of their plan in line with any extension to their mortgage as well as increase the level of monthly benefit in line with any increase to their mortgage. The plan also has a drawdown option.
