A mortgage protection package designed to cover all borrowers’ needs under a single plan has been launched by Allied Dunbar through Zurich Financial Services, writes Kirstie Redford.
Borrowers can choose to take out the Mortgage Protector plan which includes level term life cover, critical illness cover and a monthly sickness and disability benefit if the policyholder is unable to work.
The plan can be upgraded to Mortgage Protector Plus, which also includes ASU cover. Additional cover for buildings and contents can also be added to either policy.
Erica Harper, spokesperson for Zurich Financial Services, said: ‘If someone was looking for this type of cover previously, they would have to take out two types of cover or maybe even three. This product wraps the cover together and saves a lot of time filling in different forms. It covers everything you need to protect your mortgage within one policy, even buildings and contents insurance. Borrowers are happier if they know the cover they buy will protect them against all elements.’