Insurance network CETA is sourcing non-regulated insurance products to its members from a panel of four insurers.
Legal & General, Liverpool Victoria, Scottish Provident and Zurich will provide the products, although more insurers are expected to join the panel.
David Quick, managing director of CETA, said: ‘We made a deliberate decision not to enter into an exclusive arrangement with one particular insurer, but to give members a real choice. We have used buying power to negotiate a range of competitively priced products which will enable brokers to compete effectively in the marketplace.’
Intermediaries can access an internet-based comparative quote system, enabling them to source normal, decreasing term and critical illness cover.
Quick added: ‘We see term assurance as a growing market for intermediaries. The sale of life policies provides an excellent opportunity to build a stable long-term income stream. Business written by our members will be on a no-indemnity basis. As a result, commissions will be paid on a monthly basis over a three-year period as a policy matures.