LifeQuote launches new IP comparison tool

clock

LifeQuote has launched new income protection (IP) comparison software as a response to the almost universal switch by protection providers to the ‘Own Occupation' definition.

It said that while the ‘12 month Own Occupation' definition has almost made its forerunner ‘work tasks' almost extinct, it also poses challenges for advisers.

LifeQuote added that advisers now have to review their recommendations against the premium charged by the providers, the definition of own occupation available, and also the secondary level of disability definition once the 12 month Own Occupation is passed.

The new software is designed to research IP quotations across providers by the new definition and receive immediate notification of the specific provider definitions available.

Neil McCarthy, Sales & Marketing Director of LifeQuote, said: "The aim of our new systems is to give advisers greater confidence and understanding of the actual definitions offered within the products.

"Advisers can finally be confident that the definition shown in their results is the complete definition their customer will receive upon claim, without having to spend time reviewing the full illustration and key features to complete their research."

More on Adviser / Broking

How protection-writing intermediaries can navigate the cost-of-living crisis

How protection-writing intermediaries can navigate the cost-of-living crisis

“Communication is key”

Mike Pritchard
clock 18 May 2022 • 3 min read
Aegon UK launches new adviser protection platform

Aegon UK launches new adviser protection platform

To help advisers complete and submit applications online

Hemma Visavadia
clock 17 May 2022 • 1 min read
Winners of the Legal & General Business Quality Awards announced

Winners of the Legal & General Business Quality Awards announced

Intermediaries recognised for putting the customer first

Hemma Visavadia
clock 11 May 2022 • 5 min read

Highlights

First episode of The COVER Review goes live!

First episode of The COVER Review goes live!

New monthly programme

John Brazier
clock 21 April 2022 • 1 min read
The Rising Stars of Protection: Adrian Benjamin

The Rising Stars of Protection: Adrian Benjamin

"Getting into the insurance industry is very difficult, I had to fight my way to get in"

Hemma Visavadia
clock 20 April 2022 • 6 min read
Where protection meets sustainability

Where protection meets sustainability

"Being a sustainable business means more than just meeting climate targets"

Hannah Godfrey
clock 19 April 2022 • 7 min read