Burgesses offers unemployment cover
RETAIL FINANCE DIRECT - 20TH APRIL 2002
Insurance broker Burgesses is distributing its new kwikSAFE unemployment insurance policy nationally at railway stations, using homeless people to hand out brochures. The distributors are paid £25 a day, plus commission on policies sold.
Potential customers can complete an application form in the brochure and return it by mail. There is also a telephone helpline for enquiries. The product is also being sold through direct mail to targeted lists.
The kwikSAFE policy is underwritten at Lloyd’s and the premium is £3 for each £100 a month of benefit. In the event of a claim, the benefit would be paid for 12 months after an excess period of 30 days. The policy can be bought by those in full or part-time employment, contract workers and the self-employed.
Burgesses managing director Simon Burgess said that the company was able to undercut other providers of income payment protection insurance for unemployment because of high sales volumes, use of direct distribution channels and the independent financial adviser channel.
