Creditor insurance is typically sold alongside a credit card, personal loan or mortgage product.

MetLife creditor insurance products are module-based, with options to select from Life, Critical Illness, Accident, Sickness, Redundancy and Relationship Breakdown cover. The products are designed to protect the insured's monthly financial repayments on a loan, mortgage or credit card in the event of accident, sickness or redundancy or the breakdown of a marriage or civil partnership. The life and critical illness options would clear the insured's outstanding balance on the debt should they die or be diagnosed with a critical illness.

MetLife's creditor insurance products can be developed to be available to a wide customer base, providing the individual meets specified eligibility requirements, such as working for at least 16 hours a week and falling within a set age range.

Call MetLife on 0870 909 9458 to discuss what we can offer you and your customers.

Improvements to Cover

With effect from 1^st November 2007, MetLife is pleased to announce major improvements in the cover provided by a number of its Creditor insurance policies.

For Loan protection policies, new and existing policyholders will, after the 1^st November 2007, benefit from wider cover as the job loss benefit will be expanded to cover involuntary unemployment instead of redundancy only.

Protection is now available for customers who become unemployed in order to become full-time carers for family members. There is a reduction in the period over which pre-existing medical conditions impact entitlement to life, accident and sickness benefits and policies will also now include cover for stress related conditions up to a maximum of six months benefits.

Unemployment claims will now be allowed to continue where customers seek work within the EU provided they are still claiming state benefits in the UK and new claims will be accepted where unemployment occurs after a period of short term working, as defined by the Employment Rights Act.

If you are unsure whether these improved benefits apply to you, or you wish to report or discuss a possible claim please call us on 0870 909 9459.