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TMB shows it cares

The Mortgage Business has revamped its mortgage care accident,

sickness and unemployment (ASU) mortgage protection plan.

The plan offers three levels of cover — gold, silver and

bronze — and each of these have different deferred

periods. Bronze is the lowest level of cover and has a 45-day deferred

period. Silver has a 30-day deferred period and gold is the highest

level of cover with a 30-day period that is backdated to day one.

Each of the three levels of cover has three options —

accident sickness & unemployment, unemployment only

and accident & sickness only. The level of cover chosen

and the option chosen will determine the premium policyholders


Premiums range from £3.72 to £6.04 per £100 of cover with the

bronze option, £3.99 to £6.42 with the silver option and £4.68 to £7.38

with the gold option. The maximum benefit £1,500 a month, which is

paid for up to 12 months in the event of a claim.

Berkeley Alexander&#39s mortgagesafe is a similar ASU mortgage

protection plan, but it offers fewer levels of cover than The Mortgage

Business product which could limit choice for homeowners who want

to protect their monthly mortgage repayments.

Policyholders can choose from 30-day and 60-day deferred periods

and cover is available on an unemployment only basis, an accident

only basis or a combination of the two. It pays out a maximum benefit

of £1,500 a month for one or two years, which may be more useful

where policyholders are out of work for longer periods.

Unemployment only cover with a 30-day deferred period and a benefit

period of one year would cost £4.58 for each £100 of benefit with The

Mortgage Business and £4.25 for each £100 of benefit with Berkeley




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