Legal & General (L&G) is encouraging brokers to investigate client databases and contact those who h...
Legal & General (L&G) is encouraging brokers to investigate client databases and contact those who have taken out a tracker mortgage without including protection.
It reasons that these clients will now have an increased disposable income and may be able to afford cover they possibly could not have done when they originally arranged the mortgage.
Karen Blatchford, commercial director for housing at L&G, said: "Now is the ideal time for advisers to be proactive and look to existing customers for new opportunities. A borrower with a £150,000 repayment mortgage would now be over £300 a month better off, which could provide enough spare cash for protection balanced with other financial aspirations such as savings or overpaying on the mortgage. It's up to the broker to take the initiative because the chances are that the client won't think of protection of their own accord."
L&G is also providing training to generate sales on the back of its protection campaigns.
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