View more on these topics

Product Matters

Mimi, the new mortgage protection offering

from Liverpool Victoria Life (Permanent Insur-ance by any other name) is

the latest in

the cafeteria-style selection range. The problem I have with most products

of this type is that one product rarely offers our clients the best life,

critical-illness, income protec-

tion and redundancy cover available and, of course, the obligatory cheap

premiums.

The option that stands out is the unique Integ-rated Health option. This

is discounted income protection that must be taken out in conjunction with

the critical-illness option. The premiums are reduced because the overlap

between critical-illness and income protection policies has been removed

and the income protection would cease to pay out in the event of a

successful CI claim.

However, it was not the product specifications that immediately grabbed my

attention but the outstanding results achieved by Liverpool Victoria&#39s

marketing team.

Money (if you get ill), income (if you cannot work), money (if you die),

income (if you lose your job). The acronym Mimi leads the client through

the different types of cover available.

These types of products lend themselves as an introduction to new clients

sceptical of a full protection package and whose only concern is that their

mortgage is covered. In reality, one would recommend products that

complement each other, resulting in a protection port- folio which would

not terminate when a claim is made in one area.

If cost is an issue, you would struggle to find a more comprehensive

mortgage offering.

Steve Petrie is a

consultant at

John Joseph

Financial Services

Recommended

Positive Solutions links with Exchange

Positive Solutions is incorporating a customised version of The Exchangeinto its extranet site as part of a deal to provide members with extratechnology services. Positive Solutions members will also have access toThe Exchange&#39s new mortgage sourcing service, which includes a PositiveSolutions mortgage panel and specialist mortgage helpdesk.

Public puzzled over multi-ties

Consumers are “puzzled and cynical” about the prospect of multi-ties ifpolarisation is scrapped. A qualitative survey from H2B Thinking Research age-ncy questioned peoplearound the UK on their attitude to the relaxation of the regime, includingdirect salesforces selling additional products and IFAs becoming multi-tied. It revealed no one thought they would get a better deal from […]

Loyal Approval

Short-termism is an accusation that has long been levelled at the Britishway of doing business. But things move on. Supermarket loyalty cards havebeen introduced and brands have been formulated that insinuate themselvesinto the very fabric of the consumer&#39s life. In short, initiatives for holding on to customers and developing long-termrelationships have become the norm and […]

IFAs challenge Sandler to meet them for talks

IFAs across the UK have invited Ron Sandler to meet them face to face todiscuss how they do business before prejudging the industry any further aspart of his Treasury-backed review of the retail savings market. In an open letter this week in Money Marketing, 14 leading IFAs urgeSandler to contact them to talk about the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com