LV= in 10% extra commission incentive for IFAs
Liverpool Victoria (LV=) is offering advisers an extra 10% commission on its protection products if they use its ‘express route' application method.
The friendly society says the incentive is designed to alleviate the adviser workload and reduce the risk of non-disclosure on protection applications.
The ‘express’ method involves the adviser filling in online only basic details about the client and submitting them to LV=.
The insurer, which then continues the procedure via its UK-based tele-interviewing team, says this route “creates an environment which ensures appropriate risk management information is obtained”.
Stuart Tragheim, director of intermediary strategy and business development at LV=, says: “We’re focused on supporting advisers who have more on their plate than ever before, whether through saving them valuable time or providing expert support for their clients.
“This is also our latest initiative to reduce the incidence of non-disclosure which can lead to difficulties when a claim is made.
“Last year we also made our positive stance clear on accidental non-disclosure, stepped up our sector-leading tele-underwriting service and published our claims record in the interests of greater transparency.”
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