Intego, available from August 2005 and underwritten by Norwich Union, is a age-banded product and will be the first of its kind in the market.
Select & Protect commented: "In our desire to incorporate some new and value-adding benefits to the product, which have just been made available to us through our relationship with Norwich Union, we will be launching Intego in August.
"The product enables all our intermediary partners to provide valuable and appropriate mortgage payment protection to their customers with a much fairer deal based upon their age. It’s no longer one price fits all. Developed with the customer in mind, Intego will aim to not only meet the financial needs of the customer but to also help facilitate getting customers back to work in a supportive and pro-active way, much quicker than traditional products have ever offered. Select & Protect Introducer’s customers too, will also be able to benefit when introduced to us.
"Intego also addresses a common misconception that CIC policies provide total mortgage payment cover and are better value for money.
"The product’s features, some of which are in direct response to recent research conducted by the University of York on behalf of the Council of Mortgage Lenders, are very customer orientated and include full Accident, Sickness and Unemployment (ASU) cover, 30 day excess or the market-leading back to day one option, cover for the self employed, privileged access to Norwich Union’s highly acclaimed Personal Health manager, an outsourced Back to Work facility covering rehabilitation after injury and comprehensive support and guidance for individuals made redundant or unemployed, Carer cover and a pricing structure based on age at entry and maintained as so."
Bruce Reid, Managing Director of Select & Protect, comments, “Intego adds a wider scope to the features and benefits available from MPPI products, giving customers a valuable multi-dimensional mortgage support package beyond just a financial sum in the event of accident, sickness or unemployment. We feel its time MPPI products took a more holistic approach to the level, breadth and price of provision, which better meets the customer’s needs and gives our agents a product they can have confidence in recommending to meet those needs. Our launch, a little later than initially planned, has enabled us to really drill down and respond to important feedback we have received to deliver a much more comprehensive solution for brokers and customers alike.
“Not only are we providing agents with market leading commission rates, including indemnified or monthly options for one of the most comprehensive MPPI products available, we also make it very easy to sell with unprecedented sales support and online quote and buy systems. We pride ourselves on providing our agents with all the tools they need to sell MPPI compliantly and in line with the new FSA regulations.”
Agents can take either indemnified or monthly commission, are able to utilise a remuneration approach when required to reduce the customer premiums, and can continue to have access to field and telephone support for their sales, training and business needs.
