Assurant launches unemployment product
Cover is available for involuntary unemployment for mortgage and rent payments and income protection. Underwritten by Alpha Group, the policy will be sold on an advised basis through a broker and intermediaries.
The policy is renewable annually and covers a maximum monthly benefit of 125% of mortgage or rental payments or up to £2,000 or 60% of normal gross monthly income, whichever is the lowest. The unemployment-only benefit is available for up to 12 months.
Kevin Paterson, sales and marketing director at Assurant Intermediary, said: “We are delighted to be able to offer unemployment-only policies to the market again.
“We have listened to what brokers tell us, and this launch is yet another example of how Assurant Intermediary is committed to bringing products to market that match the needs of brokers and their clients and that seek to add real value.”