Pruprotect is launching an adviser based up-selling scheme to offer existing term assurance clients whole of life cover with no additional underwriting.
Only a declaration of health is needed from the customer to verify that their health conditions have not changed since the inception of the original policy.
The provider is offering a choice of three amounts of whole of life cover: £25,000, £50,000 or a maximum option of 50% of the original sum assured up to £250,000.
Cover will be index linked and on guaranteed premiums but the client must have been accepted on standard terms originally.
Around 50,000 leads are being passed to brokers throughout the campaign which the insurer said gave a total potential APE of £9m.
Pruprotect is contacting brokers with details of their eligible clients and providing them with all the supporting information to fulfil the offer, including sample letter and email templates.
Advisers need to return the completed declaration of health by post, fax or email to complete the process.
Herschel Mayers, CEO of Pruprotect, told COVER there was an obvious gap in coverage for many people.
"The clients just need to declare that their health hasn't changed since their previous purchase," he said.
"We believe there's a real need for whole of life products that's been underutilised and we thought this was a great opportunity and in an easy way to do that.
"In South Africa whole of life is far more highly purchased than term assurance, compared to the reverse in the UK, and we're hoping to redress some of that balance.
"It's not about just having term assurance or just whole of life, it's about having wider coverage," he added.
The provider launched its whole of life product earlier in the year and has been pleased with the initial take up but is hoping to expand awareness of protection it offers.
Phil Jeynes, head of account development at Pruprotect, added: "We are passionate about the need for Whole Of Life cover and we are dedicated to the intermediary market.
"Therefore we see this campaign as a great way to offer added value to our existing clients, whilst giving our brokers yet more innovative ways to talk about Protection with their customers."
