Burgesses mortgage payment protection insurance
HEALTHCARE INSURANCE REPORT - 1ST SEPTEMBER 2003
Burgesses’ latest version of its SecurityFirst mortgage payment protection insurance plans shows how the Internet can be used to generate such business. And for many intermediaries the commission earned on such plans can help fund the set-up and maintenance costs too.
Problems remain however as many of the bigger mortgage payment protection insurance players have a mixed track record when it comes to wooing IFAs, while culturally too many IFAs see mortgage payment protection insurance as alien to the sophisticated image (in their minds) of pensions and investment business. With mortgage payment protection insurance business still flat though, IFAs can play a key role in expanding markets in the future. With stakeholder pensions threatening many IFAs’ income from 2001, now could be the time to get serious about making mortgage payment protection insurance a mainstream IFA product.
