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Mortgage payment protection company Paymentshield has revamped

Mortgage payment protection company Paymentshield has revamped its existing product freestart, an accident sickness and unemployment policy.

Freestart was launched in 1997 and is for borrowers who are about to or have just taken out a mortgage and are concerned about making repayments in the event of unemployment, sickness or accidents.

The product offers immediate free cover to clients. Customers can also opt for &#39back to day one&#39 cover, by which if the person covered is ill or unemployed for 30 days, they receive a payment for that time period on the 31st day. The maximum monthly benefit is £1,500 and the premium depends on the size of the mortgage taken out and the level of cover opted for.

Freestart has proved to be a popular product in the mortgage market since it was brought in. However it is no longer as unique as it used to be. Mortgage payment protection plans are becoming increasingly popular and Freestart is now a part of a growing market in which it no longer stands head and shoulders above the rest.


IFAP says women on search service is just what doctor ordered

IFA Promotion plans to add female advisers to its IFA search serviceselection criteria which puts consumers in touch with independent advisers.IFAP says it wants to see consumers given the choice of visiting a femaleIFA along the lines of patients being able to request a female doctor.Other categories to be available soon, depend-ing on consumer tests,include […]

IPA is a new wrapper but the same old song

The Government has fitted the last cog into its pension machine with theunveiling of its Individual Pensions Account, describing it as a “brandnew” pension savings vehicle.But within hours of the launch, fund managers slammed the proposals,claiming IPAs had little new to offer and was just another case ofGovernment spin.The Treasury and the DSS made a […]

Independent View

It is a nerve-wracking time for any fund management group if one of theirleading investment managers leaves, particularly to go to a competitor.Unless they can replace him with someone just as good, there is likely tobe an exodus of money following the departure.It is also a headache for the IFA in deciding whether to advise […]

Merrill and AMP stakeholder deal

Merrill Lynch Investment Managers is joining forces with NPI parent AMP tooffer its clients stakeholder pensions.AMP is allowing MLIM, formerly Mercury Asset Management, to use Alis, itspension admin system.The Merrill Lynch stakeholder is unlikely to be offered through IFAs asthe company is saying this market is not of any importance to it.But NPI says the […]


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