Holloway Friendly is targeting mortgage brokers with its new Income Protection plan.
Purely IP is for advisers to sell to their clients. The policy has no investment element to it, so any adviser with Insurance Permissions can provide their clients with the insurance they need to protect their income and their families in the case that they lose their job through either accident or sickness.
Up until now, most Holloway Income Protection policies do include an investment element which requires an adviser to have investment permissions.
Holloway Friendly conducted research with 320 mortgage advisers at the end of last year asking what developments they would like to see in the income protection market. The request was overwhelmingly for an income protection policy that is more affordable, available to blue collar workers and that mortgage advisers could provide directly to their clients without the need to refer them to an IFA.
Mathew Manser, sales and marketing manager of Holloway Friendly, said: “Most Holloway Income Protection policies include an investment element but this requires a mortgage adviser to have investment permissions in order to sell them. In response to feedback we have taken that element away