Assurant Solutions will also manage claims and administration for securityfirst.co.uk.
The suite of products includes loan protection, mortgage protection and income protection, with premiums set according to the customer’s age. A feature of these age-banded products is that premiums do not automatically increase over time, meaning that customers stay within the same age-banded rate for the term of the policy as they grow older. The only exception is if the customer increases the mortgage or loan at any stage. The increased amount will be charged at the new rate if customer has moved up an age-band. All products offer full back to day one cover and provide protection for accident, sickness and unemployment.
Simon Burgess, managing director of British Insurance, which owns securityfirst.co.uk, commented: “I have been impressed with the approach to payment protection that Assurant Solutions has adopted, putting the customer at the heart of its underwriting process. Its team has developed a track record over the past 18 months in creating flexible insurance products and pioneering the introduction of age-related payment protection covers. They are clearly focused on delivering real value to the consumer and as this is a subject close to my own heart, I felt that Assurant Solutions represented the only logical underwriting partner for securityfirst.co.uk.”
Ian Moffatt, managing director at Assurant Solutions, said: “Assurant Solutions is committed to bringing a new breed of protection products to the market that will bring about a sea change in our industry. We’ve developed a close relationship with Simon through his bestinsurance.co.uk brand and so are delighted to extend our relationship with him to provide securityfirst.co.uk with this range of age-related payment protection products that deliver real value to consumers.”
