CETA - the Central Electronic Trading Agency - has launched a payment protection plan for tenants.
The Safeguard Income Protection policy covers accident, sickness and unemployment for people living in rented accommodation. The policy costs £6.08 (plus IPT) per £100 of cover and is underwritten by Groupama.
The policy has a 60 day exclusion period and is only available to those who have been in continuous employment (at least 16 hours per week) for six months prior to taking the policy out. The maximum payout is £1500 per month.
Commission for the policy is 15%.
