Norwich Union has launched an online trust facility aimed at IFA clients looking to avoid inheritanc...
Norwich Union has launched an online trust facility aimed at IFA clients looking to avoid inheritance tax
IFAs using the facility will now be able to put term, whole of life and endowment policies under trust using computer software
Incorporated into the feature is a guide that aims to ensure that advisers select the appropriate trust with the relevant clauses for their clients. The computer program asks the IFA a series of questions and is then able to print off the correct form with the correct trust wordings for the client
Also featured on Norwich Union's IFA First website is an online guide to the underwriting of term policies. This, for example, can reveal the stance that the company would usually adopt on ratings that will be given for clients with medical conditions and illustrate where applicants might be rejected. It also shows how medical history impacts on rates and points out where further medical evidence might be necessary
Martin Chapman, marketing manager at Norwich Union said: "These new online features are all designed as simple, practical measures that will help IFAs in their day-to-day business. We believe the trust facility will help IFAs to put policies under trust quickly and the underwriting guide will prove an invaluable reference tool for advisers
