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L&G increases MPPI premiums by 20%

Legal and General has increased its mortgage payment protection insurance premiums by around 20 per cent.

The increases, averaging 20 per cent, is part of the provider’s ongoing review and analysis of the MPPI market.

A L&G spokeswoman says: “It was a result of looking at the current risks with the changes in the current economic situation. We felt, unfortunately, that we had to increase our prices to reflect what else is happening in the market.”

The premium increase will vary depending on whether the policy includes accident, sickness and unemployment cover, and over what term the policy has been in force.

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