The product, smartgard Mortgage Protection, offers three cover options: accident, sickness and unemployment (ASU), plus accident and sickness only and unemployment only. For customers who choose the full ASU product, they will be entitled to a free Home Assistance policy providing cover up to £500 for central heating, plumbing and other household emergency repairs.
Cover will be available for new and existing mortgage customers. A waiting period of just 30 days applies, with back to day one cover. Also, smartgard incorporates a ‘No Claims Bonus’ – after the first 24 months claims free, the policy benefit increases by 10% free of charge. Commissions are payable on a sliding scale depending on volume, up to 35% of gross premiums. Gross pricing starts from just £3.25 per £100 monthly benefit.
In addition to more traditional paper methods, all agents will be eligible to use Median’s online application process via smartgard.co.uk enabling an entirely paperless transaction. Applications can also be saved offline and submitted online when convenient.
