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C&G upgrades its mortgage payment protection insurance


Cheltenham & Gloucester is to upgrade its mortgage payment protection insurance with immediate effect.


MPPI protects homeowners in the event of accident, sickness and unemployment.


The move comes ahead of new guidelines set out by the Council of Mortgage Lenders and the Association of British Insurers which take effect from July 1, 2001.


The guidelines have been introduced to ensure all policies share the same basic specifications. All new policies sold after July 1, 1998 must adhere to the guidelines, but existing policies have until July 2001 to meet these requirements.


C&G has updated its new and existing contracts to take these standards into account.

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