A life assurance proposition is being piloted through Nucleus, the IFA-owned wrap platform.
Integrated Protection Solutions (IPS) has made its Wealth Protect product available through the platform to an initial group of 11 member-firms before being rolled out to all Nucleus wrap users early next year.
David Ferguson, chief executive of Nucleus, said the move was to ensure the platform's sustainability by broadening its proposition beyond access to investment products.
He said: "Over time every legacy product will be reinvented for a platform world and this announcement with IPS is an important part of this market evolution.
"What the team are doing at IPS is brilliant and it will change for the better the way protection products are built and used in the UK."
Steven Mendel, chief executive of IPS, said while the wealth adviser had evolved beyond recognition in response to RDR and changing client needs the UK protection market had not.
"It is still built around a fixed cover offering, set through one-off transaction-based advice. The traditional protection market now looks outmoded," he said.
Ferguson said that for platforms to fulfil adviser needs, propositions needed to continually develop beyond accepted norms.
He added: "Where some platforms seek to peddle in-house funds to make their business models stack up, we're taking a different view."
Wealth Protect is a daily-renewable term assurance policy designed to pay out a sum on death equivalent to the difference between the value of a client's platform assets and the client's target portfolio value.
The product is underwritten by Elips Life, a wholly-owned subsidiary of Swiss Re, and is available as a single life policy to clients aged between 18 and 75.
And the sum assured will be automatically calculated each day based on the actual value of the invested assets with clients advised on daily information each month.
Clients will have the option to limit the sum assured from increasing beyond a set amount, and can change the limit at any time.
The offering will feature online underwriting with policies going on-risk immediately.
IPS' offering aims to create an RDR-compliant protection business to support wealth management advisers in integrating client wealth objectives and protection needs.
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