A large case team set up for advisers arranging protection cover for high net worth (HNW) clients could halve the application time, LV= says.
The service, which offers a single point of contact, has been set up as a result of the “specialist attention” often required setting up HNW cover, it says.
“We understand that larger cases often need specialist attention and so we have introduced this service to put the minds of advisers and their clients at rest,” Chris McFarlane, head of protection at LV=, says.
“Advisers have told us that this type of service would be useful, so we have listened to them and worked to develop a service that we know they will value.”
Arranging cover for HNW clients can be more complex and require more information, LV= says, such as specialist medical and financial information.
It adds it has halved the application time for some cases during a trial run of the service, as well as witnessed an increase in policies being taken up.
“It is a win-win situation for both financial advisers and their clients,” MacFarlane adds.
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