Changes to our Payment Protection Insurance in April 2010
Over the last 12 months many payment protection providers have been criticised for increasing rates, applying new exclusions or even cancelling cover during the economic crisis. We're delighted that Brit Insurance did not increase rates for our existing customers and that they share our view that customers should be legally protected against this happening again in the future. We've therefore agreed new terms with Brit which include: - limited increases in costs for new customers
- a freeze in price for new disability only customers
- guaranteed premium for each year of cover
- no price increases for our existing customers
This means that during each period of cover we'll be unable to change premiums or terminate cover for customers. In addition, Brit have incorporated a guarantee in the customer policy terms and conditions that, if losses ever occur one year, they will not seek to recover previous losses in future years. We know that you like our simple £20 approach to price comparison so below we have details what cover your customers would get for £20 under the new premium rates: | Type of Cover: | Amount of Cover: | | Unemployment & Disability | £470.59 | | Disability Only | £851.07 | | Unemployment Only | £677.97 | For full details of our new rates, click here.
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