Specialist Lloyd’s insurer Jubilee Europe aims to offer protection for Dutch mortgage holders, by entering into a partnership with Reliance Mutual Insurance Society Limited to launch a long term life cover product.
Underwritten by Reliance Mutual, the product can be either level or decreasing term and single or joint life. The maximum term is 30 years. Single, annual and monthly premium options are available and the policy will be administered by Jubilee Europe in Amsterdam.
As with Jubilee Europe’s existing MPPI (Mortgage Payment Protection insurance) products, the long term life product can be accessed via Jubilee’s online platform Jubilee.net. This will enable brokers and IFAs to obtain quotes, confirm standard of the policy and print key documentation within minutes.
The long term life product launch is part of Jubilee Europe’s long term strategy to create a suite of innovative house buying covers, which includes plans to offer property and residual value insurance products in the near future.
Theo Van Der Mark, Executive Chairman of Jubilee Europe said: “By joining forces with Reliance Mutual and delivering products via our web based quote engine we intend to widen the choice available to brokers, IFAs and their clients. With our combined expertise we can genuinely bring added value to the market by delivering a comprehensive product whilst reducing the time it takes to sell and administer the policy.”
Mark Goodale, Chief Executive of Reliance Mutual said: “We are delighted to be joining forces with Jubilee Europe to launch this exciting product into the vibrant Dutch market and hope this marks the start of a very successful collaboration. Reliance Mutual prides itself on its ability to work with partner organisations to help bring a range of exciting and innovative products to the market both in the UK and Europe.”
Source : Jubilee
