Clydesdale and Yorkshire Bank to distribute Engage Mutual whole of life plan

Posted in: Products Last updated: 22 Aug 2007

From today, 22nd August 2007, Clydesdale Bank and Yorkshire Bank will distribute the engage Mutual Guaranteed 50 Plus Life Cover both from their branches and also online.

The partnership between National Australia Group and engage Mutual aims to increase the share of the over 50s protection market by working together to deliver a programme of targeted communications to Clydesdale Bank and Yorkshire Bank customers.

Andrew Haigh, Chief Executive of engage Mutual, believes the move will allow more choice to customers looking at taking out the Guaranteed 50 Plus Life Cover product:

“We’ve already enjoyed considerable success offering our Guaranteed Whole of Life Plan by mail to Clydesdale and Yorkshire Bank customers. We now look forward to making it more accessible to customers who prefer to use their branch or buy online. Our experience tells us that many over 50s now prefer to buy online, with over 25% of all new policies being taken out through the internet. The Guaranteed 50 Plus Life Cover, is a very simple, affordable product, which is ideal for those looking for life cover without the intrusion and complexities of health and lifestyle questions or a medical.”

Product information:

The Guaranteed 50 Plus Life Cover offers:

  • no medical or health questions
  • guaranteed acceptance without a medical
  • guaranteed tax-free lump sum payment on death
  • low-cost life insurance premiums from £8 per month
  • guarantee premiums will never rise
  • premiums will cease at age 90 but cover will continue
  • up to £32,000 of cover for accidental death in the first two years

People who require full details of Guaranteed 50 Plus Life Cover should contact engage Mutual on 0800 2300 923 (Clydesdale Bank) or 0800 2300 925 (Yorkshire Bank)

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions

Notes to Editors:

Guaranteed 50 Plus Life Cover:

  • guaranteed 50 plus pays out on death and has no cash in value at any time
  • depending on how long the plan runs the amount paid out may be less than the total premiums paid
  • premium payable depends on the level of cover chosen, age, gender and tobaco habits
  • the plan is available to UK resident’s aged 50 to 80.
  • inflation will reduce the buying power of the lump sum payout
  • if payments stop before age 90 the plan will end and life cover will close

Engage Mutual:

  • is one of the larger UK mutuals providing simple, value for money savings, protection and investment products.
  • currently helps over 330,000 customers of all ages to protect, preserve or enhance their welfare, with some of the most straightforward products on the market.
  • prides itself as a family-oriented, modern mutual, providing products that help enable households of all kinds to proactively plan their finances to meet their future needs. More information on engage Mutual is available at www.engagemutual.com
  • engage Mutual Assurance is a trading name of Homeowners Friendly Society Limited (HFSL), Registered and incorporated under the Friendly Societies Act 1992, Registered number 964F. Authorised and regulated by the Financial Services Authority (FSA). HFSL’s FSA Register number is 110072. You can check this on the FSA’s Register by visiting the FSA website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

engage Mutual can be contacted on 0800 169 4321 or by visiting www.engagemutual.com

About Clydesdale Bank

Clydesdale Bank was established in 1838 in Glasgow and has a proud history of innovation and support for Scottish industry and communities. With over 150 retail branches and a network of Financial Solutions Centres, Clydesdale is one of Scotland’s largest banks. The Bank is currently expanding its operations into the South of England with its innovative Financial Solutions Centres, offering customers a highly integrated business and private banking service. Clydesdale Bank was recently voted the ‘Best Business Bank’ in Scotland, by the Forum of Private Business.

In 1987, Clydesdale Bank PLC became a member of National Australia Bank Group.

About Yorkshire Bank

Yorkshire Bank was founded in 1859 in Halifax, West Yorkshire. Today, the Bank has almost 200 branches, a strong personal customer base and a growing business capability in the North of England and the Midlands. In 2006, Yorkshire Bank was voted the UK’s ‘Best Business Bank’ by the Forum of Private Business.

Yorkshire Bank is a trading name of Clydesdale Bank plc, which is a subsidiary of the National Australia Bank Group of companies. Yorkshire Bank joined the Group in 1990. Yorkshire Bank is a trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority. Clydesdale Bank PLC Registered in Scotland Number SC001111. Registered Office: 30 St Vincent Place, Glasgow G1 2HL.