Stonebridge Mortgage Solutions selects five-star Engage Mutual for its protection panel

Posted in: Products Last updated: 30 Sep 2014

Stonebridge Mortgage Solutions, the mortgage and insurance network, has added Engage Mutual’s over 50 life cover to its protection panel.

A pioneer in the over-50s life market and one of the first to use advisers in the sector, Engage has also recently been awarded the coveted Defaqto Five Star Rating.

Pedigree and experience was a major factor in the mutual’s addition to the panel which has only five other approved providers.

“We have rigorous criteria that the companies in our Protection panel have to meet and Engage Mutual product will be a valuable addition for networks advisors and clients”, said Stonebridge Business Partnerships Director, Paul Nye.

Engage’s Guaranteed 50 Plus Life Cover offers a comprehensive and competitive over 50s guaranteed life cover product.

It also has a unique flexibility for customers, allowing them to claim part or all of a cash lump sum on diagnosis of a serious or terminal illness after the two year moratorium.

“That’s why we are delighted to join Stonebridge, as they have such an excellent reputation in the industry.”

Engage Sales Director, Stuart Tragheim said: “Part of our growth strategy has been to develop partnerships with key players in the intermediary sector and find like-minded companies who have the same commitment to quality and service that we do".

“That’s why we are delighted to join Stonebridge, as they have such an excellent reputation in the industry.”

Engage also recently streamlined its adviser website www.engageadviser.com and strengthened its intermediary support team.

“We were one of the first to bring over-50 life insurance to the intermediary market and it makes sense for us to continue to build on that expertise by investing in supporting the adviser community and building new partnerships”, added Stuart.

Product information – Guaranteed 50 Plus Life cover offers:

  • No underwriting or health questions
  • Guaranteed acceptance without a medical for UK residents aged 50 - 80
  • Separate rates for smokers/non smokers
  • Guaranteed lump sum payment on death
  • Premiums from £10 per month
  • Guarantee premiums will never rise
  • Premiums cease at age 90, but cover continues
  • In the event of death in the first two years it pays out 50% more than has been paid in premiums; or 3x sum assured, subject to a maximum pay out of £48,000, should death occur solely as a result of an accident. It pays out the full sum assured, less any serious illness benefit previously paid where death occurs after two years
  • Depending on how long premiums are paid, what is paid in premiums may be more than is paid out on a claim
  • It also has a unique flexible payment policy for customers, allowing them to claim 20 per cent of life cover on diagnosis of serious illness and the full amount on diagnosis of a terminal illness less any serious illness claimed after the two year moratorium

For further details on Guaranteed 50 Plus Life Cover contact Engage Mutual on 0808 100 50 75 or visit www.engageadviser.com

For further media information on Engage Mutual, please contact:

Kathryn McLaughlin, Media Relations manager, tel: 01423 855245
Emma Chadwick, PR consultant, tel: 01423 8554256
e: [email protected]

Notes to editors

Engage Mutual is one of the larger UK mutuals providing simple, value for money health, protection, savings and investment products to around 500,000 customers.

Engage Mutual Assurance is a trading style of Homeowners Friendly Society Limited (HFSL) which provides over 50s life cover plan, easy save, junior easy save; protected investment bond. HFSL is Registered and Incorporated under the Friendly Societies Act 1992, Registered Number 964F. HFSL is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). HFSL’s Financial Services Register number is 110072.

You can check this on the Financial Services Register at www.fca.org.uk/firms/systems-reporting/register or by contacting the Financial Conduct Authority (FCA) on 0800 111 6768.
Job number: 140912/01