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Increased distribution of mortgage protection insurance via the broker channel has seen Australian Life Insurance (ALI) register record volume growth.
In the year to March 2009 ALI said its sales volumes grew by 75.5 per cent as more brokers moved to diversify their product offering.
“There has been a steady increase in brokers seeking viable additional revenue streams to support commission generated by residential mortgages, and mortgage protection insurance is an obvious fit,” ALI CEO Tasso Papachatgis said.
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More than 4,500 brokers are currently accredited with ALI to write mortgage protection insurance.
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