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February 2025 Product Update

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  4. PMI
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February 2025 Product Update

  • Lending

  • Equity Release

  • Protection

  • PMI

  • GI

We’ll see you at the NTE!

Our annual National Training Event is being held next month on the 27th. We hope to see as many of your there as possible!

We still have plenty of Coffee Mornings and Webinars to keep you occupied up until the big day, so check out our Events Calendar to keep up to date with what’s on!

Now let’s take a look at the products we have below, sent in from our providers…

Latest News

Aldermore: Multi-Property Application

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Greenfield Bridging: What Poundland Teaches Us About Transparent Fast Lending

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Hodge: LTI Criteria Expansion

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Pepper Money: Debt Consolidation

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Suffolk BS: JBSP to our intermediary partners

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Swansea BS: Let’s talk all things Swansea Building Society

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Get in touch

Anita White

Head of Lender Relationships

Looking to the future…

We’re looking forward to seeing you next month for our National Training Event on 27th March.
The Equity Release Team will be at their usual spot in the Later Life Lending Zone, along with many of our Equity Release Lenders and Partners.

We will also be running our specialist Round Table Room, throughout the day we will also be running panel debates across all products, so when you’re not in the specialist room, make sure you listen to our panels going on all with our top advisers within the talks.

Lots of exciting things to be getting through throughout the day.

See you on 27th March!

Latest News

Aviva: UK Housing Market Update Q1 2025

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LV=: The Equity Release landscape and market outlook for 2025

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The Later Life Lending Network: We are delighted to invite you to our LLL Workshop

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Mansfield Building Society: Lending into retirement case studies

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Pure Retirement: February News

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Get in touch

Victoria Clark 

Head of Equity Release

Protection Developments!

Sales of pure protection life insurance have increased by 25%, reaching £431 million in the year leading up to June 2024. This growth is attributed to heightened awareness of inheritance tax implications and the role of life insurance in estate planning.

National Friendly reported significant growth in income protection and accident-only income protection policies, with sales increasing by 81% and 53% respectively in the year ending December 31, 2024. This trend reflects a growing consumer focus on financial security and income protection.

A survey by The Exeter indicates that over half (51%) of advisers expect increased demand for health insurance, income protection, and life insurance products in 2025. This anticipated rise is likely due to heightened consumer awareness of health and financial well-being.

These developments underscore a dynamic and evolving protection insurance market, influenced by regulatory changes, leadership shifts, and growing consumer interest in financial protection products. We should make sure we are jumping on this increase, and making the most of the publicity and awareness with our clients.

Latest News

British Friendly: Recent changes at British Friendly

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Canada Life: Help your clients find stability in their retirement

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Cirencester Friendly: Introducing Medi2data

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Holloway Friendly: Underwriting FAQs

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Legal & General: Unlock the Remortgage Boom!

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National Friendly: Friendly Shield

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The Exeter: Life insurance is coming soon to our Protection Portal

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Zurich: Protecting IHT gifts with protection

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Get in touch

Amy Wilson
Head of Insurance Products

UK PMI is GROWING!

The UK private medical insurance (PMI) sector has experienced significant growth and transformation recently. As of the end of 2023, nearly one in eight Britons—approximately 11.8% of the population—are covered by private medical insurance, the highest proportion since 2008. This surge is largely driven by companies offering policies to employees and individuals seeking personal coverage due to delays in NHS care. The total value of medical and dental cover reached a record £7.59 billion, with private medical cover accounting for £6.15 billion.

Employer-sponsored schemes have seen notable growth, covering 4.7 million individuals—the highest level in over 30 years. Insurers paid out a record total of £3.57 billion for private medical insurance claims in 2023, up 21% compared to 2022 figures. This equates to £9.8 million per day across the year, with payouts for workplace policies increasing by 26% to £2.27 billion.

The demand for private health cover has reached its highest levels since 2008, as challenges in accessing NHS-funded care continue to push individuals toward privately funded alternatives for diagnosis and treatment.

Have you done enough to make sure you are the person that the clients think of when they want to take out a new policy?

Latest News

Aviva: Welcome to our Wellbeing Library

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Bupa: Our dental allowance just got even better

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Freedom: Virtual GP Update

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Vitality: Weekly News Launch

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Westfield Health: Health Screening Offer

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WPA: Broker Newsletter

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Get in touch

Bipin Sandhu

PMI Supervision & Development Manager

We look forward to seeing you!

As we say goodbye to February, we have seen insurance premiums rising at a slower pace over the month compared to previously, this has provided some much needed relief for consumers who have been plagued by dramatic rises since the pandemic.

Speaking of brighter futures, we are looking forward to seeing you all at our annual National Training Event on the 27th of March to celebrate 10 years of The Right Mortgage. We will be held in our General Insurance Zone, so come over and say “Hi!”

Latest News

Berkley Alexander: Mid or High Insurance isn’t just for the rich & famous

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Ceta: Latest Product Underwritten by Beazley Furlonge

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Higos: Does your client need unoccupied property insurance?

Read More

LV=: Simplify  your Commission Calculations

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Payment Shield: How will 2025 shape up for advisers?

Read More

Get in touch

Amy Wilson

Head of General Insurance (PMI and GI)

By Harry Grubb|2025-02-27T15:52:35+00:00February 28th, 2025|Mortgage, PMI, Protection|0 Comments

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