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BDS members see MPPI increase

BDS network has conducted a survey among its appointed representatives which shows almost half reported an increase in the sale of mortgage payment protection insurance, while a third have increased income protection sales.

Some 91% of the AR respondents are looking to increase sales in non-investment sales in 2009 to coincide with a third of the network anticipating a mortgage volume decrease of 50% or over.

At a recent Network training day, BDS insurance panel providers Halifax, Friends Provident, Synergy and Higos gave presentations on their insurance propositions and identifying new sales opportunities.

Bob Hope, sales and marketing director of BDS network, says: “It is encouraging to know that our ARs are taking positive steps to replace lost mortgage income in 2009. Many are reticent about introducing or increasing fees, so enhancing their proposition through diversification offers a real alternative.

“We have recently seen a 20% increase in life sales and an extra 32% in GI sales; and with the average sale equating to around £330 profit for the AR it really has to be the way forward.”


Honesty is the best policy for insurance

In recent weeks the issue of non-disclosure has reared its head in the consumer press. Cheltenham Borough Council has taken its former managing director, Christine Laird, to court, claiming she failed to disclose information about her health when she applied for the job.

L&G offers mortgage related protection framework

Legal & General is deploying a new sales analysis framework, intended to help advisers identify where they need to focus to increase their effectiveness when selling protection.

Target loan servicing wins servicing contract

Target Loan Servicing has won a significant contract to service loans for Park Motor Finance, a wholly-owned subsidiary of Credit Suisse. The loan portfolio contains approximately £80m of motor loans for 20,000 customers.  This new service contract will secure up to 50 jobs in Newport, South Wales.James Snow, chief executive officer for Target Loan Servicing, says: […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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