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The Right Mortgage and Protection Network unveils ‘trust hub’

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  • 07/06/2022
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The Right Mortgage and Protection Network unveils ‘trust hub’
A ‘trust hub’ has been launched by The Right Mortgage and Protection Network, aimed at supporting brokers whose clients want to have their protection policies written in trust.

Having a policy written in trust means that the policy sits outside of a client’s estate, meaning that payouts go directly to the intended beneficiaries, without having to wait for the completion of probate.

The network noted that the processes different providers have for writing life cover in trust can vary significantly, and pointed out that it’s crucial for advisers to have all the tools necessary for supporting clients looking to make use of trusts.

The ‘trust hub’ includes a host of podcasts and webinars explaining how to complete the process for each of the main protection providers, as well as a ‘Trust Guru’ resource. The network says this maps out most of the generic questions advisers might ever want to ask about how to write a policy into trust.

The hub also boasts sales aids to help advisers explain the benefits of trusts ‒ and what is involved with being a trustee ‒ to clients, alongside provider tools, documents and literature around the subject.

Vincent O’Connor, director of products at The Right Mortgage and Protection Network, noted that sometimes brokers struggle with the job of writing life cover policies into trust, though praised providers for investing in technology that makes the process easier.

He continued: “When you look at the diversity of the trust processes from each of the main providers; this can create challenges for advisers because they are all quite different. That’s why we’ve created a central resource for our advisers called the Trust Hub.

“It’s generic and it aims to help and support advisers with the practicality of writing more protection policies into trust – both new policies and those already in force.”

Earlier this year the network launched a ‘vulnerability hub’, aimed at recognising vulnerability in their clients as well as supporting advisers’ own wellbeing.

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