Co-operative Insurance Society Mortgage Protection Insurance Review

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2 stars
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Janine's Review of Co-operative Insurance Society Mortgage Protection Insurance

4th Feb 2004

Overall Rating

4 stars
  • Value for money
    4 stars
Good Points

Reasonable rate,
Efficient and personal service,
You can pay monthly,
Easy to understand documentation,
Sister company to Co-operative bank.


Bad Points

There is a 60 day waiting period.


General Comments

The Co-operative insurance society (CIS) offer a great mortgage payment protection cover. It is normally £5 per every £100 of your monthy repayment. You can arrange for it to cover you 100% or if you are a couple and both employed, you can split it into a percent that suits you.
If you arrange your mortgage through the Co-op bank, you are offered this insurance, if you agree it is taken together with your normal monthly payment (although claims are made through CIS).
The only bad point is that you have to wait 60 days before you can claim when you first take it out. Also if you claim once and are off again with a different illness you can not claim for 60 days. However if you go back to work and the same illness occurs but find you havnt recovered, you can claim without waiting 60 days.

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