The product is said to be the first of its kind in the market as it enables agents to provide ‘valuable and appropriate’ mortgage payment protection for their customers with a deal based upon their age. It is underwritten by Norwich Union and available immediately.
The product’s features, some of which are in direct response to recent research conducted by the University of York on behalf of the Council of Mortgage Lenders, are aimed at being particularly customer-orientated.
They include full accident, sickness and unemployment cover; an excess or ‘back-to-day-one’ option; cover for the self-employed; access to Norwich Union’s personal health manager; an outsourced back-to-work facility covering rehabilitation after injury and comprehensive support and guidance for individuals made redundant or unemployed; carer cover; and a pricing structure based on age at entry and maintained for the life of the policy.
Bruce Reid, director of Select & Protect, said: “Integro adds a wider scope to the features and benefits available from MPPI products, giving customers a valuable multi-dimensional mortgage support package beyond just a financial sum in the event of accident, sickness or unemployment.
“We feel it’s time MPPI products took a more holistic approach to the level, breadth and price of provision, which better meets the customer’s needs and gives our agents a product they can have confidence in recommending.”
David Quick, managing director of general insurance network CETA, said: “I don’t really think that there is anything amazing about this new offering. It’s all well and good providing an age-related product but it still depends on the rate and I expect there are other products out there in the market that are better priced.”
