There was never anything wrong with MPPI, it was a very fine product, and saved thousands of homes for thousands of families. However, that does not mean that old fashioned PPI could not be improved, and DMS has done just that.
|The problem||The DMS solution|
|One policy to cover mortgage payments, another for rent, and another for loans.||Our suite of Short Term Income Replacement policies will cover all of your Client’s needs|
|To cover mortgage rent or loan payments your Client must be a signatory on the mortgage deed, rental or loan agreement.||DMS does not require this.|
|To cover mortgage rent or loan payments, these must be paid from your Client’s bank account.||DMS allows these to be paid from your Client’s spouse/partner’s account|
|If when a claim arises any insured monthly outlay has ceased, the amount will be deducted from the claim payment.||DMS offers FREE Pre-Validation of outlay with a bank statement at any time, ensuring benefits will be paid in full, and regularly reminds Clients of this.|
|If a Client makes a claim, renewal may not be invited on their policy.||DMS invites renewal every year until age 65|
|If a Client makes a claim, the premiums on their policy may be increased||DMS premium levels are set by the claims level of its book of business as a whole.|
|Cover details can be changed at 30 day notice.||Cover details and premium levels can be changed ONLY on the policy renewal date, and ONLY after DMS giving 60 days notice of any increase together with the reasons for it.|
|Claims for stress or backache are always refused unless the client has been referred to a Specialist Consultant, and these types of claims account for over 50% of total claims.||DMS will make claim payments for up to 3 months before requiring medical evidence from Specialist Consultants.|
|When a Client makes a sickness claim, any reduced income they receive from work is always deducted from the monthly benefit||DMS will make claim payments of up to 125% of the sum of your Clients regular provable monthly outlay, even if they are receiving full salary from work|
|Within a redundancy claim if a Client is offered a job on probation, they often dare not take it because if they fail the probation the claim would not restart.||Clients can request that DMS treat that position as a temporary job and hold the claim in abeyance for up to 12 months. If they fail the probationary period, the claim can be immediately restarted and any balance of benefit can then be paid|
Do you have Clients who have mortgages?
Less than 7% of UK families with mortgages have any income protection, or enough savings to make even one mortgage payment.
How long could your Clients make their mortgage payments if they were ill, injured or lost their job through involuntary redundancy or business closure?
DMS market leading Home Guard can make your Client’s worries about this disappear but only if YOU tell them about it
A policy you can recommend to your Clients with confidence, because in 2014 DMS approved 91.92% of all claims notified by Clients, and then in 2015 improved this still further to 95.45%
DMS starts claim validation as soon as the application is received
DMS puts claims at the heart of the business, because the claims service is the only part of the policy that is of any interest to a Client.