BMW dealers are now able to sell customers insurance to protect their income.
BMW Financial Services has agreed a five year deal with Allianz to offer income protection and shortfall cover to BMW customers in the UK, under the brand name BMW Protect.
BMW Protect comprises two separate categories of insurance cover, both enabling customers to control the amount of cover they require, and available as monthly or annual policies.
The first - BMW Income Protection - offers life and critical Illness cover, providing a lump sum benefit to the level of cover chosen. Accident and sickness and unemployment cover can give customers monthly payments for up to a maximum of 12 months.
The second - BMW Shortfall - is a GAP product.
Mondial Assistance, a sister company of Allianz Retail, will administer each of the products that make up BMW Protect.