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More than 2,000 individuals in debt management plans (DMP) have signed up to a trial protection policy underwritten by mainstream insurers including Allianz. Packaged, negotiated and sold through niche insurance firm Judicious, the Life, Accident, Sickness and Unemployment (LASU) policy is available through any DMP introducer that has more than 500 cases on its books.
Individuals must make repayments for three months before qualifying for the policy and creditors must agree to take a lower monthly repayment in order to accommodate the cost of the insurance. The policy can pay out for up to six months in the event of an accident, sickness or redundancy, although it ceases if the individual remains incapacitated after this...Read more on here---> Insurers to underwrite Debt Management Plans
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