Mortgage InsurancePayment protection insurance, which is also commonly referred to as ‘accident, sickness and unemployment (ASU) insurance', has traditionally charged all applicants the same flat rate, irrespective of their age, occupation, gender and smoking habits.This had made it attractively straightforward to understand and easy to arrange. But it has also meant that many people have struggled to afford the costs, particularly younger individuals who are still living off modest incomes.Even the best value independent specialist payment protection insurance providers have tended to charge in the region of £4 a month per £100 of monthly cover, and profiteering banks and building societies have often charged 50% to 100% more than this.