Released on: August 24, 2008, 12:34 am

Press Release Author: British Insurance

Industry: Financial

Press Release Summary: People in full-time employment who give up work to care for
an immediate family member may be missing out on having their mortgage costs met via
Payment Protection policies warns Simon Burgess from British Insurance.

Press Release Body: People in full-time employment who give up work to care for an
immediate family member may be missing out on having their mortgage costs met via
Payment Protection policies warns Simon Burgess from British Insurance.

The independent Payment Protection Insurance (PPI) provider says although a number
of insurers automatically provide carer cover in their Mortgage PPI, very few people
realise what this means and fail to claim if they voluntarily leave work to become a
carer for up to a year.

Burgess comments: "The policies meet monthly mortgage costs should an accident,
sickness or unemployment occur and the unemployment criterion is generally
interpreted as being made unemployed by your employer. However, those opting to
leave their job because of circumstances beyond their control, ie caring, are also
covered."

According to the charity Carers UK, around six million people - one in eight adults
- are carers and over three million already juggle work with caring. Three in five
people will become carers at some time and one in five will have to give up work.
The Carers Allowance - £50.55 a week or £2,628.60 a year - replaces paid income, but
many go without this because they're unaware or not informed of what's available.

In its 'In the Know' report, Carers UK found that 19% missed out on benefits within
the first year. Burgess continues: "Over two million people start caring every year
and I fear a number of them may have MPPI but do not realise they can claim on their
policy. As a result, they're missing out and suffering financial hardship."

Carers UK predicts 60% more carers will be needed by 2037 and is concerned that if
carers do not get the financial and practical support they need, they are vulnerable
to a poor quality of life. Burgess concludes: "Whilst this isn't a long term
solution, it does provide a temporary mortgage repayment financial safety net in
that first year and will help people keep their homes and give them time to sort out
their finances.

"This type of cover could make a huge difference, so it's vital people check their
policies. The State isn't always going to hand out money - insurers need to be more
socially responsible and help where they can."

British Insurance's Mortgage Payment Protection policy has a five star rating from
research specialist Defaqto who after scrutinising 103 MPPI policies placed it 'at
the very top of the market' for its wide-ranging cover and support services.
Cover starts at £1.60 per £100 per month and further information on Payment
Protection Insurance can be found at www.britishinsurance.com
British Insurance
PO Box 6164
Braintree
CM777ZW
Telephone: 08450 175 178
Fax: 08450 175 065
britishinsurance2008@gmail.com

Web Site: http://www.britishinsurance.com/

Contact Details: British Insurance
PO Box 6164
Braintree
CM777ZW
Telephone: 08450 175 178
Fax: 08450 175 065