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Asteron takes a mortgage on risk products

Asteron reckons it can sell more life insurance business by launching a home loan service.

Friday, April 2nd 2004, 6:06AM

by Philip Macalister

Asteron has launched a white-labelled home loan service which is primarily aimed at being a tool to help to help advisers sell more life insurance.

The company this week rolled out the product to advisers around the country. It is branding up a standard home loan service run by Australian Mortgage Securities (AMS).

AMS is a company which provides a home loan product to many providers in the market including the likes of Cairns Lockie, Elders and Pioneer.

Asteron’s strategy is to include in the home loan application form as a one page person statement for insurance products. The idea being that it is a natural extension for someone to complete this form after completing the home loan one. Also it has set the form up so that people will buy joint cover.

“We are launching a lending service with a simple path to life protection – that’s it,” Asteron Rod College says. College says the company is “proud” that it has been able to condense the risk application form to one page.

The life cover on the short form application isn’t limited to the loan.

Asteron says it launched the service as advisers had asked for a home loan product. Its strategy is to target insurance advisers as well as mortgage brokers.

College says the insurance offered is its standard Smart Plan products which are already well known by advisers. The Asteron home loans have competitive rates, no establishment and on-going fees, a low cost easy financing service and interest only loans.

To see how its rates compare click here
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