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LONDON - Abbey mortgage customers have reasons to cheer, as they are eligible to avail three months of free mortgage protection cover starting September 5. The new offer aims to get the customers ready in case there is unexpected sickness or redundancy.
The offer comes in the backdrop of findings by new research from Abbey which says that almost half of all UK adults would struggle to maintain their current lifestyle if they were to experience any changes in their current financial situation. Even with this knowledge, Abbey found that only one in five mortgage holders was covered in the event of sickness, accidents or redundancy.
Abbey said that it was vital to have protection plans in place since around 70 percent of mortgage holders could not avail state assistance in the event of any unforeseen circumstances, "At a time when people may be thinking about their mortgage options because of the recent rate cuts, they should also give some thought to protecting themselves against any unforeseen changes in their lives. Abbey's Paymentcare policy can give people the financial peace of mind that their home is safe," said Lloyd Wilson, Head of Insurance Marketing at Abbey.
For new customers who choose to avail both Abbey mortgage and Paymentcare, the offer becomes more lucrative since the cover starts form the moment of signing the agreement to the completion of the missives. The three months' free cover offer would be specially welcomed by those mortgage-owners who have recently switched jobs and are not sure how to handle mortgage payments.
Paymentcare is applicable in case of accident; sickness or redundancy and people have a choice to opt for any combination best suited to their needs. Paymentcare is also applicable to people who have fixed-term jobs or are self-employed, but the must be between 18-65 years of age.
Posted
on : Sat, 03 Sep 2005 17:05 GMT | Mortgages News
By : Salim Patel
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