PMS adds six new providers to Zenith protection panel

PMS Mortgage Club has announced it is expanding its Zenith protection panel for directly authorised (DA) firms with the addition of six new providers.

British Friendly, Canada Life, Guardian, Shepherd’s Friendly, The Exeter and Unum will join existing providers on the panel that include Aegon, AIG, Aviva, L&G, LV=, Royal London, Scottish Widows, Vitality and Zurich.

The new panel offers advisers enhanced terms and is backed by support from PMS’s in-house experts, along with the 15 product providers to represent the majority of the UK protection market.
 
The Zenith protection proposition offers advisers and their customers solutions to a range of needs including term assurance, critical illness cover, income protection, family income benefit, private medical insurance, whole of life, relevant life, business protection and group risk.

Bankhall and PMS managing director, Ross Liston, commented: “The COVID-19 pandemic has highlighted people’s vulnerabilities – both health-wise and financially. Advisers have a critical role in responding to this increased consumer interest and helping to strengthen their clients’ financial resilience, by having more meaningful protection conversations.

“It’s a double-edged sword for advisers – increased consumer interest on one hand, but with protection products in a state of flux, which in some cases is making it more difficult to place business with confidence. Offering increased provider choice through our new Zenith protection panel provides a greater range of solutions to this potential problem for advisers and their clients.”
 
PMS has also announced the launch of a Fair Value Framework for directly authorised firms, and suggested the move will help advisers to ensure that customers enjoy strong value from the protection and general insurance (GI) products they recommend through the club.
 
Commenting on the launch of the framework, PMS campaigns and propositions director, Jeff Woods, said: “All advisory firms offering protection and GI have a regulatory obligation to undertake product governance to ensure the products they distribute are right for their customers.

“However, some directly authorised firms struggle with this due to limited resources and confusion as to how this can be demonstrated in practice. That’s where PMS is seeking to help, with the launch of our Fair Value Framework.

“Working closely with our provider partners, we will ensure the products available through Zenith are in line with the latest regulatory guidance and offer true, ongoing value to the customer.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.