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Smartgard to shakeup MPPI market

Smartgard has launched a mortgage payment protection insurance product which pays intermediaries a substantial 35% in headline commission with annual indemnity rates of 32.5%.

Smartgard from Median Insurance, a division of Lloyds broker Monument UK, includes unique features that are certain to attract customers.

These include a free Home Assistance policy and 10% no claims bonus.

The core benefits of Smartgard include: full accident, sickness and unemployment, accident & sickness only and unemployment only options.

There is back to day one cover with no excess a 30 day waiting period/12 months benefit period.

There is also cover for new and existing mortgages, re-mortgages and rental payments; single and joint cover options and an online trading platform for agents.

Aidan Plumridge, Smartgard co-founder, says: A lot of work has gone into making Smartgard a tremendous product for customer and intermediary alike.

“We feel it offers a synergy to the mortgage lending businesses and will also be much sought after by the larger networks and brokers.

“We also believe the core cover and financial terms available to intermediaries, to be the best in the market.

Commission terms are dependent on the size of the business opportunity and are available on either monthly or annualised terms. Single premium terms providing cover for up to 60 months are also available.

The free home assistance policy provides cover for up to 500 call-out, parts and labour costs for emergency repairs to central heating, plumbing, drainage, domestic power supply, home security and replacement of lost keys.

Customers must have had a claims free period of 24 months to qualify for the 10% no claims bonus, after which a free 10% uplift in insured benefit is activated.


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In Focus — February 2015

Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.


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