The initial range includes a buildings and contents policy, a multi-option mortgage payment protection policy and legal expenses and identity fraud cover.
All three are underwritten independently and administration support for all products is provided by Plus One Services. Brokers can register by completing an online submission. Registrations received before the end of June 2008 will receive enhanced commissions of up to 30 per cent of the paid premium.
There are also guarantees for brokers to receive their full entitlement to commission for the life of the policy even if they retire, change profession or cease to deal with regulated products.
David Fulluck, managing director of 3XD, said: “Over the last six months we have been inundated with requests from advisers for a GI proposition. In response, we have used our experience in the broker market to pull together a range of GI products that are both innovative and exciting.
“We want our intermediaries to be well rewarded for supporting our business and our major focus will be on providing long-term commission security. Our intermediaries can be reassured they will receive their entitlement to commission for the life of the policy, even if they decide to leave the industry.”
Simon Sirman, mortgage advisor at Plan Invest, said: “It is a difficult market in which to make headway as the companies involved with the first two have a lot of presence already. As for the third one, there is a whole market for identity fraud and I question whether people would benefit when there are so many other things to cover. If they’ve got spare money, they should invest in areas such as pension planning.”
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