Direct life has launched a fully comparable buy now life insurance policy, available to advisers through Direct Life's LifeQuote service and direct to the public through Confused.com.
Rob Quayle, managing director of Direct life, said: "This is what people in our industry have been talking about for a long time. Customers frequently don't get the price quoted once they apply for a product and they get frustrated and don't come back.
"The product only appears when it is being offered for sale to somebody, as people expect to buy immediately, with no application process."
Advisers and the public will be able to compare term products from multiple providers using a brief question set and, if the answers fall within the new products underwriting, will be also offered the new product immediately, alongside other products requiring application. They will then be emailed a cover note.
Direct life estimate, following testing, that the policy will be offered to 35%-45% of clients.
The policy is a version of Aviva's existing siomplified life product and Direct life is currently in talks to extend the buy-now facility to a range of other providers and product classes.
Quayle said: "This is the first in what will be an increasing range of cover. Products and add-ins will become available as we can manage, with critical illness next on the list."
Aviva hailed the announcement as a significant step in underwriting.
Robert Morrison, chief underwriter at Aviva, said: "As an industry we need to the complexity that allows customers to purchase life insurance quickly and easily.
"Direct life and their offerings of LifeQuote and Confused.com have enabled us to fulfil these needs and, while it is just one step, it is a very significant one."
Evolution not revolution