Advertorial
Demand in the property market looks set to remain strong for the rest of 2015, underpinned by a recovering economy.
Recent CML market commentarycitedthat consumer confidence has bounced back, with people more confident about personal finances, mortgage rates remaining close to historic lows and wage growth continuing to be robust, with approvals for house purchases at their highest level since the start of 2014.
However, whilst demand is strong, the shortage of property on the market is keeping house prices at an elevated position, continuing to outpace earnings in most of the country, so the financial strain of getting onto the property ladder or moving home remains a big issue for many.
We know that when a client is buying a house it’s one of the strongest triggers to talk about protection.
But with budgets already stretched it can be difficult for some people to see the justification in further financial outlay, especially when it’s something they hope they never need to use.
There are many options to fit appropriate cover to a client’s budget. Short-term products can be considered, alongside tweaking the terms of a long-term product to bring down the cost.
But with VitalityLife, by living healthier,people can also manage the cost of their cover through annual cashback and annual premium discounts, which could even offset mortgage interest rate rises if they occur in the future.
The healthier they get, the more people get back, and the more they’ll be able to get out of life. It’s a virtuous circle that’s good for them, good for us, and good for society.
People can also save their lifestyle from taking a nosedive when taking on a mortgage as VitalityLife gives people tangible benefitssuch as 50% off gym membership (a joining fee will apply), weekly cinema tickets, Starbucks coffee and discounted travel and spa breaks, which allows people to continue to enjoy the things they may have had to cut back on, while getting fitter in the process.
Our core purpose is to make people healthier and enhance and protect their lives.
This means that when we design products, we believe they shouldn’t just protect clients when things go wrong, but also help them to get more out of life, giving real value every day without the need to make a claim.
This is the case with our Mortgage Plus Plan, a straightforward protection product which allows clients to protect their mortgage in the event of death or inability to work due to illness.
Coupled with Vitality Optimiser it can furthermeet the needs of those on a budget, by giving the up-front discounts, cashback and lifestyle benefits mentioned above.
At a time when budgets are already stretched, a policy that gives something back to clients from day one can be a much more attractive protection proposition.
Helping your clients get the protection they need, and save money at the same time means not only will they value your advice and they’ll keep you mind for next time, they will want to tell their friends about how they’ve saved money and it may even mean a referral for you.
