Paymentshield partners with AmTrust for new mortgage protection offering
General insurance provider Paymentshield has announced enhancements to its protection offering, including the reintroduction of unemployment cover to its mortgage protection policy, to sit alongside accident and sickness cover.
Alongside offering the enhanced cover options, Paymentshield has also migrated its current mortgage protection and income protection book to AmTrust Specialty Limited, a subsidiary of AmTrust International, with Uris Group acting as the claims administrator.
Plus, Paymentshield has optimised the quote journey to make it even easier for advisers to offer their clients a price to protect their mortgage payments.
These developments underline Paymentshield’s commitment to ensuring every home is fully protected against a backdrop of economic uncertainty for many. According to the Chartered Institute of Personnel and Development, employer redundancy intentions have risen to their highest level in a decade.
Paymentshied’s Mortgage Protection enables customers to cover their mortgage payments and associated insurance premiums for up to 24 months if they’re unable to work due to accident, sickness, unemployment or if they need to become a carer.
Customers also have the option to increase their monthly benefit by up to an additional 33% to cover other financial commitments like utility bills or credit card payments. The maximum benefit is £3,000 or 75% of gross income per month.
The refreshed mortgage protection product is now available for new customers to purchase, with Paymentshield’s existing mortgage protection and income protection policyholders automatically transferred to the new insurer with no interruption in cover.
For more information please visit the Paymentshield website