Protection Forum

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2019 PROTECTION AT THE AMEX COMMUNITY STADIUM.

EVENT: FPG Protection Event
WHEN: 17th Septemer 2019 9.30 am to 2 pm, AMEX Community Stadium, Brighton.
HOURS: 4 hours of relevant “insurance” CPD

Networking interaction with 6 insurance partners and our own Compliance department. 121 discussions with protection BDMs to discuss specific USPs, criteria or individual cases.

introduction

The Importance of Protection, by Dan Maskell, MD of FPG

Knowledge is power, know your numbers and an understanding of our best practice standards for protection penetration.  Having a protection process is key and an introduction to the protection “7 point process”.

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AEGON

by Rebecca mark toms

Business Protection specialist insurer – all business protection products covered, including RLP and executive income protection.
Personal Protection – all 6 products, including WOL, can be applied for on the same application.
Price Pledge – will undercut the lowest premium by £1 subject to minimum premiums of
£100pm for life and £200pm for cic, and over £1,500 pm benefit for income protection.
Policy Plus Services – health and wellbeing service, 2nd medical opinion, key person replacement services and £10k. funeral payment pledge – available with appropriate insurance products.

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SCOTTISH WIDOWS

by joe caunce

Product Range – life and cic only for personal, plus all business protection products including RLP
Underwriting – specialise in BMI, diabetes, mental health and alcohol intake (56 units pw is still standard rates)
Underwrite-me – a suggested independent portal hosted by a third party provider to provide returned, fully underwritten, quotes for up to 9 different insurers, including Scot Widows.
90 days from application date – terms are guaranteed and no changes in medical disclosures need be reported.

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CANADA LIFE

by Joanna king

No GP Reports – that’s right, none will ever be requested
Underwriting Service – just a 4 hour turnaround time for all cases when referred to an underwriter
Underwriting – BMI up to 42, and smokers means tobacco in-take so vapers are classed as either non-smokers or
past-smokers
Lifeworks App – a free app for all Advisers and policyholders providing lifestyle and wellbeing tools and discount vouchers

THE EXETER

by jules mead

Application Process – you can hand-off to a client electronically if preferred Income Protection – two products (Income One Plus for white collar and Pure Protection
Plus for blue collar), day 1 to week 52 deferred periods, 2 year or 5 year or full-term products, own occupation for all applicants, premiums are either level guaranteed, age costed guaranteed or age costed reviewable, self employed can guarantee minimum pay-outs by evidencing their income at outset.
Managed Life Underwriting – cover for type 2 diabetics and high BMI up to 46 where the individual can manage their condition to affect the future premium pricing.
Real Life Underwriting – can cover individuals in early cancer remission, complex heart conditions, mental health, HIV, type 1 diabetes, type 2 also, BMI up to 55. Terminal illness cover included and cover available to age 90.
Health Wise – client app, includes GP on demand, second medical opinion, physio if IP product held, mental health support through CCBTs, lifestyle coaching and nutritional advice.

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AVIVA

by alison burke

Added Value Services – BUPA anytime health line (0345 030 8071 – which registered Advisers have access to too), counselling and carer support, best doctors 2nd medical opinion, funeral and probate pledge of £11k
Global Treatment – (the only insurer to provide this) – for £4 per month you can add-on this cover which provides up to £2m of cover (max £1m per year) for health treatment worldwide for the policyholder, spouse and children.

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GUARDIAN

by hayley young

Sales Opportunities – 40% of individuals have no life cover, 71% have no cic. Also, 38 is the age at which most individuals are diagnosed with a critical illness.

Product – Single life cover only, and single cic too. Childrens cic can be added to adult life cover policies `
TIC – immediate pay-outs for any stage 4 cancer or Parkinsons/MND diagnosis
CIC – immediate pay-outs for any stroke or heart attack, and for malignant skin cancer.

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The Protection Sales Opportunities,

by phil vincent

 Huge Claims Payments – Aviva have paid out £957 million alone in 2018, so how much have all of our insurers paid out?! These policies do work!
SSP – remember, it is just £94 per week
CPD remember, it is 15 hours of insurance CPD that is required this year!
Income – you cannot do anything without it, nothing at all. IP is the solution to this!
B&C insurance – we must be selling B&C with all house purchases as a minimum. If you’re not currently, then change your process and provide a B&C quote with the mortgage quote.

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