[Skip to content]

Private Healthcare UK
Search our Site

This website is certified by Health On the Net Foundation. Click to verify.
This site complies with the HONcode standard for trustworthy health information:
verify here.

Advertisement
.

Paymentshield increases price of mortgage payment protection insurance

Paymentshield

Specialist provider Paymentshield has increased the price of its mortgage payment protection insurance cover by an average of 20%. Increases apply to new and renewal business.

 

Cover is now only available when bought within 30 days of taking out a new mortgage or remortgage. It is turning away customers with existing home loans.

 

Unemployment cover is no longer available on its own; only as an option when bought with accident and sickness cover.

 

Underwriters Norwich Union, the largest provider of unemployment cover in the UK, is concerned about the rising number of employed.

 

James Watson of Paymentshield says, “As a responsible provider we need to ensure that the premium covers the risk. We have already seen some of our competitors increase rates in this sector and Norwich Union is altering rates across the market.”

 

The company does not sell direct, only through intermediaries.

 

Income protection insurance: News update: 05/02/2009

 

Related links