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The Exchange rates ASU

The Exchange has unveiled an accident, sickness and unemployment mortgage protection plan called the standard easi protect plan that is available to IFAs who use its internet service.

The plan is aimed at homeowners who want to protect their monthly mortgage repayments in case they are off work because of illness or injury, or if they become unemployed.

The monthly premium is £4.99 for every £100 of benefit required up to a maximum of £1,500 a month. The benefit is paid out after a deferred period of 30 days and is paid for up to one year.

It differs from its sister product, easi protect plus, in that it is a basic plan for clients who want to keep the cost of cover to a minimum. This could benefit the less well off who would be hardest hit if they were unable to work. However, buying a home is expensive and homeowners may be unwilling to pay additional costs for ASU if their finances are already stretched to the limit.

The Mortgage Operation&#39s Freestart is an ASU plan that is more competitive than the standard easi protect plan. It provides a higher amount of maximum cover at £1,875 a month and also pays out benefit for one year. Homeowners can choose from a deferred period of 30 or 60 days. Those who choose a 30 day deferred period pay £4.40 for every £100 of benefit required, which is cheaper than the monthly premium under standard easi protect.


Midshires chooses managing director

Halifax specialist lending arm Birmingham Midshires has appointed DanWatkins as managing director. He succeeds Ian Kerr, who has left to take upa senior role within the combined Halifax/Bank of Scotland group. Watkinswas previously Midshires director of mortgages and savings and has beenappointed to lead it through its transition to sub-prime lender later inthe year.

Document download

One of the perennial problems for IFAs is making sure they have anadequate supply of fully up to date literature from product providers. Brochures, application forms, generic key features documents and many morechange on a regular basis and, with the advent of Saltr and the formaladoption of the new FSA rulebook at N2, there will […]

Sir Brian Stewart to chair Standard Life

Scottish & Newcastle chairman Sir Brian Stewart is to become the new chairman of mutual life office Standard Life.Stewart, 55, will replace the current chairman John Trott who is expected to announce his retirement at Standard&#39s annual meeting next April.Known as a strong defender of mutuality, Stewart is expected to resist any further attempts to […]


IFAs are increasingly asking me how they should differentiate between themany technology suppliers that are operating in our marketplace. Quality ofproduct is an obvious factor. IFAs need to be using proven products andservices that exactly match their needs and add value to their business. However, there are many marketing buzzwords such as portal, CRM and […]


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