Protection underwriter Goodfellows has launched a new unemployment income protection product specifi...
Protection underwriter Goodfellows has launched a new unemployment income protection product specifically aimed at customers who are not tied to a mortgage or other loan.
Goodfellows claim that the package, UnemploymentSAFE, has a maximum benefit that is 40% higher than most other policies, offering a total of £2,500 per month. Underwritten at Lloyd's, the package is available to employed and self-employed people aged between 18 and 65, irrespective of occupation. Premiums range between £2.50 and £3 per £100 of benefit.
Commenting on the launch, Simon Burgess, managing director at Goodfellows, said: "With changing work patterns there is no such thing as a job for life and State provision is either minimal or in most cases non-existant. Therefore, unemployment protection ought to be an essential purchase for most people once they have insured their lives."
