The scheme is being called Futures 75 because each individual product sold by a financial adviser results in a £25 procuration fee, therefore if all three are sold they receive £75. In addition advisers will receive a further £10 for every renewed policy.
Advisers only have to raise the topic and obtain permission to pass on a clients contact details, and if the application is successful the fee will be paid.
The products are sourced through the panel of a third party broker. Currently the MPPI cover is provided by NIG Scandia, and both the buildings and contents insurance premiums are provided by Zurich Financial Services Group and GROUPAMA.
Martin Maynard, managing director of Mortgage Next, said: "It is Mortgage Next's aim to provide financial advisers with products that address all the issues the customer may face at the time of purchase from mortgages, to loans, to insurance products, hence the introduction of the Halifax Personal Loans Product and 'Futures 75'. 'Futures 75' offers three very attractive protection products to the customer, without adding the burden of more paperwork to the financial adviser. We conducted a trial of 'Futures 75' to over 500 advisers at our nationwide IFA roadshows and the response was excellent so we have every confidence in the success of the product."
