All new Abbey mortgage customers will get three free-months of mortgage protection cover from September 5.
The offer is designed to start customers thinking about how they would manage in the event of sickness or redundancy.
Recent research by Abbey suggests that half of all UK adults would be unable to maintain their current lifestyles for more than a few months if their work circumstances were to change.
Yet only one in five mortgage holders have protection against sickness, accident or unemployment.
Abbey suggests that mortgage protection plans are particularly vital as 70 per cent of people who unexpectedly lose their income do not qualify for state assistance with their mortgage.
Lloyd Wilson, Head of Insurance Marketing, Abbey, said: "At a time when people may be thinking about their mortgage options because of the recent rate cuts, they should also give some thought to protecting themselves against any unforeseen changes in their lives. Abbey's Paymentcare policy can give people the financial peace of mind that their home is safe."To read more about mortgage, click here.
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