Provider expands individual protection offering
Aegon Scottish Equitable has launched a number of individual protection tools. The provider aims to highlight how advisers could increase business efficiency and maintain and increase revenues in the present economic climate.
The main offering is a business income review tool designed to identify the key issues behind individual protection cases that fail to come to completion or cancel after a short period. The device assesses the impact of these cases on the adviser's business.
Mark Meades, head of individual protection sales at Aegon, said: "In our experience the key reasons why policies are not taken up are affordability and cases where a rating has been applied. Our information capability has enabled us to help advisers understand the key issues affecting their revenue stream and identify the necessary measures to reduce them."
In addition Aegon is issuing a generic pre-sale underwriting questionnaire, designed to take advisers and clients through the fact-finding procedure, ensuring all relevant questions are asked at an early stage, which smoothes the overall process.
Commenting, Alan lakey, principal of Highclere Financial Services, said: "I hope most advisers would know why cases do not come to fruition. I personally contact the clients and ask them what is going on and if they have any problems. In many cases providers are not helpful. I have a Scottish Equitable case at the moment where I need a declaration of health form, which is unavailable on their website. I have waited weeks for it."
