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TenetLime looks at single-tie deal for protection

Tenet’s mortgage, protection and general insurance arm, Tenet-Lime, is holding talks about offering a single-tie protection proposition for its members.

TenetLime says the proposition comes in response to member feedback.

Addressing the Tenet conference, TenetLime managing director Gemma Harle said: “We have heard from you that you would like further choice in respect of the current make-up of our protection panel. Some of you have asked us to look at a single-tie offering as this fits with your own business model. We are now some way down the line in making these changes.”

Master Adviser senior partner Roy McLoughlin says: “As we move towards the RDR where, arguably, protection advice will increase, I find it difficult to understand how advisers are happy to be tied to one company when there are so many companies out there with great products. This is particularly relevant, given the increase in multi-benefit plans we have seen recently and the flexibility they provide.”

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  1. As Tenet Lime is a Mortgage and Non Investment Insurance Network, one of the main areas of RDR (provider commissions) will not affect it at all.

    This move by Tenet Lime is all about offering the advisers a way of earning higher commissions. I wonder if they will also go down the Banks’s road by selling products with loaded premiums?

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