Protection  

Ten tools to aid the protection sales process

    CPD
    Approx.30min

    By

    Underwriting tools

    Underwriting tools can help advisers manage client expectations at the beginning of the protection sales process, and also aid decisions on which provider is the most suitable for your clients circumstances.

    Article continues after advert

    One of the biggest reasons for policies not being taken up is that when the policy goes through underwriting, the premium comes back at an increased level, and the client wasn’t expecting it.

    Mr Knowles at Cura said: “Some of the most useful tools we find are actually underwriting tools. Being able to assess online how a company is likely to class an overweight client or a client with diabetes is extremely helpful and most companies now offer these.”

    For example, Scottish Widows has an underwriting outcome tool: http://www.scottishwidowsprotect.co.uk/underwritingoutcome

    Likewise advisers wishing to compare detailed product features can typically do so with most quote portals or ratings companies such as Defaqto. In addition, the F&TRC Quality Analyser is a free service for advisers to compare extensive product details across the protection product range.

    www.advisersoftware.com

    Kevin Carr is chief executive of the Protection Review

    CPD
    Approx.30min

    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. According to LV=, how much does it cost to raise a child from birth to age 21 in the UK?

    2. Which insurer launched a tool that gives you a health and lifestyle age?

    3. The Risk Reality calculator identifies the likelihood of someone being unable to work, getting a serious illness or dying before they reach which age?

    4. Which advisory firm launched its own tool to help clients asses how at risk their income is?

    5. What was the name of the Facebook test launched by the industry campaign Seven Families?

    6. Which two insurers were cited as having particularly useful business protection tools?

    Nearly There…

    You have successfully answered all the questions correctly, well done!

    I completed this CPD in

    To bank your CPD please complete the form below.

    Were the stated learning objectives met?

    Why weren't they met?

    What did you learn from undertaking this CPD exercise?

    Why did you undertake this piece of learning?

    Any comments about this article or FTAdviser's CPD in general?

    Banked!

    Congratulations, you have successfully completed and banked this piece of CPD

    Already Banked!

    You have already banked for this article.

    To bank your CPD you must or

    Register

    One or more questions have been incorrectly answered,
 please review your answers and try again.

    By submitting these answers I confirm that I have
read and agreed to the terms and conditions

    Please complete all the above text fields to bank your CPD.

    More Protection CPDSee my completed CPDSee all CPD

    More on Protection