Securah launches MPPI clinics

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Latest news in the UK for December 2006 covering the financial news sector.

Securah has launched a series of mortgage payment protection insurance (MPPI) clinics to help intermediaries increase sales.

The MPPI clinics aim to guide intermediaries through all aspects of the sales process, from providing clear product information to ascertaining a customer’s suitability, explaining the various levels of cover available and treating customers fairly.

Paul Dunlop, sales director at Securah, said: "We will also focus on the claims process which is a fundamental part of any insurance policy. Above all we really want distributors of our MPPI to be able to see the process all the way through to when a customer makes a claim.

"Our clinics will enable intermediaries to confidently offer MPPI, by giving a thorough understanding of stand alone products that offer first-rate levels of cover. Utilising a fully compliant system that ensures a customer’s eligibility is checked at point of sale will lead to more customers with suitable mortgage protection and happier mortgage advisors.

“There is a tendency to associate MPPI with the costly loan and credit card PPI sold by some of the high street banks which has led to general negativity surrounding the product. This is despite the fact that both the Financial Services Authority (FSA) and Office of Fair Trading (OFT) have, within the last two weeks, admitted that PPI can provide worthwhile cover for customers. Then there are issues regarding the miss-selling of MPPI and the potential crippling financial consequences of an FSA fine. All this at a time when MPPI should be a serious consideration for first-time buyers who are financially stretching themselves to get a foot on the property ladder.”