The Mortgage Business (TMB) has re-launched its mortgage payment protection insurance (MPPI) policy, Mortgage Care.
One of the key improvements to the policy is an increase on maximum payouts on the product from £1,000 to £1,500 a month, to reflect an increase in average loan sizes.
The TMB product comprises three different cover levels, gold, silver and bronze. Gold provides day one cover while benefits on silver and bronze kick in after 30 and 40 days respectively. Clients can also select any combination of accident, sickness and unemployment benefits.
Keith Street, sales and marketing manager at TMB, said: ‘The type of cover required depends on your personal circumstances. If your job is safe you will not need to take unemployment cover. It is a bespoke product where an individual can pick a product suitable for their own requirements.’