Permanent is adding critical illness cover to its mortgage protection range, with its Critical Illness Mortgage.
The stand-alone policy can be directly linked to a repayment mortgage, including the new breed of flexible mortgages.
There are a two main situations where this policy can be used.
First, where people wish to add critical illness cover to existing life cover. This includes both those wanting a straightforward addition to a life mortgage protection policy and those who have switched from an endowment to repayment mortgage but kept their endowment in place as a savings and protection vehicle.
Second, where single homeowners may have chosen not to take any life cover.
Examples of the cost of cover for a £80,000 repayment mortgage over 25 years: