Tenet Group to distribute engage over 50s plan

Posted in: Products Last updated: 02 Feb 2009

engage Mutual Assurance has further broadened distribution of its Guaranteed 50 Plus Life Cover Plan via IFAs. The plan will now also be available through Tenet Group, one of the UK’s largest independently-owned IFA adviser support networks.

engage Marketing Director, Karl Elliott, stated:

“As they face the challenges of the current climate, IFAs are seeking to realise the full potential of their client base by offering additional products and services. The Guaranteed 50 Plus Life Cover provides an opportunity to revisit their clients’ protection needs, and open the door to new customers, with a simple and affordable plan that does not involve time consuming or intrusive underwriting, and offers guaranteed acceptance without a medical.”
He continued,

“Our Guaranteed 50 Plus Cover Plan has demonstrated considerable success to date with IFAs, and we are thrilled that through Tenet Group, with its 5,500 nationwide membership, we can extend its availability.”
Tenet Group will also be distributing the engage Progressive Bond via its network of advisers.

engage Mutual provides simple, value for money protection, savings and investment products. The Guaranteed Over 50s Cover Plan provides guaranteed acceptance without a medical; the reassurance of fixed premiums; a guaranteed lump sum payout on death; and no premiums beyond age 90, with continuing cover.

product information
The Guaranteed 50 Plus Life Cover offers:

  • no medical or health questions
  • guaranteed acceptance without a medical
  • guaranteed lump sum payment on death
  • low-cost life insurance premiums from £10 per month
  • guarantee premiums will never rise
  • premiums will cease at age 90 but cover continues
  • accidental death benefit in years one and two with full cover payable after two years

People who require full details of Guaranteed 50 Plus Life Cover should contact engage Mutual on 0808 1005075.

Guaranteed 50 Plus Life Cover:

  • guaranteed 50 plus pays out on death and has no cash in value at any time
  • in some cases there may come a point when the premiums paid will exceed what would be paid out on death.
  • premium payable depends on the level of cover chosen, age, gender and tobacco habits
  • the plan is available to UK residents aged 50 to 80.
  • over time inflation will reduce the buying power of the lump sum payout
  • if premiums stop before age 90 the plan will end and life cover will cease
  • the lump sum paid out may be subject to inheritance tax unless the policy is
  • written in trust.
    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.
    For more information contact:
    Kathryn McLaughlin
    PR Manager
    01423 855245
    notes to Editors:
    1. engage Mutual Assurance is a trading name of Homeowners Friendly Society Ltd (HFSL), Registered and incorporated under the Friendly Societies Act 1992, Registered number 964F and its wholly-owned subsidiaries, engage Mutual Funds Limited (eMFL) and engage Mutual Insurance Ltd (eMIL). Both HFSL and eMFL are authorised and regulated by the Financial Services Authority (FSA). HFSL’s Register number is 110072, eMFL’s Register number is 181487. eMIL is authorised to conduct general insurance business by the Gibraltar Financial Services Commission and is regulated by the Financial Services Authority for the conduct of UK business. eMIL’s FSA Register No is 485680. You can check this on the FSA’s Register by visiting the FSA website www.fsa.gov.uk or by contacting the FSA on 0845 606 1234.
    2. engage is one of the larger UK mutuals providing simple, value for money savings, protection and investment products. It currently helps over 420,000 customers of all ages to protect, preserve or enhance their welfare, with some of the most straightforward products on the market. engage prides itself on being a family-oriented, modern mutual, providing products that help enable households of all kinds to plan their finances to help meet their future needs. More information on engage Mutual is available at www.engagemutual.com
    3. engage supports mutuality, friendly societies and the regional financial services industry through links with the Association of Mutual Insurers, the Association of Friendly Societies, Mutuo and Leeds Financial Services Initiative.
    4. engage Mutual Funds Limited (EMFL) is a provider of the Child Trust Fund direct and in partnership with organisations including Yorkshire Building Society and Scarborough Building Society.
    5. engage Mutual has been the title sponsor of the Rugby Super League since 2005 and has extended its agreement to 2010.
    6. engage Mutual announced its entry into the health cash plan market in July 2008 following an agreement of partnership with Wakefield & District Hospital’s Contributory Scheme (WDHCS). Further to this, 30,000 health cash plan customers transferred from Premier Health Benefits (part of WDHCS) to engage Mutual Insurance Ltd.