Uinsure reduces MPPI premiums
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Uinsure is reducing the premiums on its mortgage payment protection insurance policies, in partnership with Lloyds of London underwriters Jubilee.
Borrowers purchasing a MPPI policy in conjunction with a purchase or remortgage product from April 4 2011 will benefit from an average 15% decrease in accident, sickness and unemployment cover and a 5% reduction in accident and sickness pricing.
Product coverage and commission terms made available to brokers will be unaffected.
Simon Taylor, chief executive officer at Uinsure, says: “Over the last year, as unemployment levels have risen, sales of MPPI have increased significantly. This has been driven by financial advisers making their clients aware that having mortgage protection at this time of economic uncertainty can bring welcome peace of mind.
“We will continue to work with our insurers to provide market leading products that will allow brokers to develop a significant income stream from general insurance business.”
David Swann, senior case underwriter at Jubilee, adds: “We are delighted to continue to develop competitively-priced, quality products in partnership with Uinsure. As the government’s cutbacks begin to take effect, the value of this type of protection is as high as ever.”
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