Next Protection has been designed specifically with small firms of brokers in mind who prefer to focus their limited resources on generating mortgage business and may, in the past, have passed up on the opportunity to provide life cover for their clients.
Next Protection provides brokers with two easy ways to provide their clients with life cover. Brokers can either refer their clients to Mortgage Next, who will then take over and advise the client, source a suitable policy and complete all the necessary paperwork. Alternatively, brokers can elect to maintain the client interface, with Mortgage Next providing the life quote and managing the paperwork in the background.
Whichever option the broker chooses, they will earn commission equivalent to 50 per cent of the annual plan income. Next Protection uses a panel of 14 leading insurers, which ensures a competitive quote can be provided for virtually any client. The scheme is available to all appointed representatives of the Mortgage Next Network.
Gemma Harle, managing director of Mortgage Next Network, said: “Some brokers have felt that the commission income was too small and the paperwork too complex to justify the effort of selling life cover. The Next Protection scheme gives such brokers an easy way to write life business and generate worthwhile additional income. With the mortgage market showing signs of slowing during the year ahead, this scheme provides a very tangible way to boost earnings. We have a competitive panel of insurers and using the scheme is simplicity itself.”
