Paymentshield MPPI - a few questions

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Hi, there is a statement in my policy that states that if the mortgage payment has reduced since the policy started, they will reduce the monthly benefit accordingly and refund the excess premium from when the reduction occurred. My question is - does anyone know what would happen if say, 2 months into the claim the interest rate went back up? Do they accept that the policy can be revised back upwards towards the original level? Interest rates have been cut a lot recently and I never reduced my MPPI cover, knowing that these deep cuts could only be temporary and thinking that I was covered for the agreed sum insured anyway.

Anyone know/had experience with these issues?

Thanks

Sylvia

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And now the interest rate is down to 1%. Does this mean that Paymentshield and other MPPI insurers will use this as a 'ceiling' for all payments for new claims made now? So if the interest rate goes up during the claim period, then it's just tough luck?