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.”