Insurer Friends Provident has launched an online service available to IFAs that offers their clients ...
IFAs' clients must register as a known life with Friends Provident online and can then apply, also online. Level term assurance with a maximum sum assured of £250,000 is offered.
Successful applicants complete direct debit forms for premium collection in the same session and receive immediate temporary cover there and then. The cooling off notice is then posted to the client along with the policy documents once the first premium has been collected.
Allfinanz and Friends Provident have adopted a revenue-sharing business model where Allfinanz is paid both for professional services and those term assurance transactions that result in a sale. No license fees will be levied. Jim Maher, Group CEO for Allfinanz, commented: "This lowers the barriers for entry into the internet distribution space for our customers and everyone wins, especially the consumer, who benefits from convenience and instant gratification."
IFAs can obtain further information via: www.friendsprovident.com/ifa or contact the e-IFA Helpline: 01722 311122.
By Andy Wild
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