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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


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


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