VitalityLife Deputy CEO, Deepak Jobanputra, believes his company's pioneering use of technology to set fairer premiums has led to members re-evaluating their relationship with life insurance
Since life insurance policies first appeared around 300 years ago in the UK, the business model has more or less remained unchanged. You have an initial health assessment through the underwriting process, to fix a starting premium. From then on, in the case of typical guaranteed premium policies, you simply pay the same fixed monthly premium all the way to the end of the term. The issue many people have with this approach is one of basic fairness. Given that risk increases with age,...
British Friendly has introduced an online Adviser Toolkit to encourage income protection sales.
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.