An online income protection (IP) quote service has been launched by Friends Provident.
The life and pensions firm says advisers can now quote and produce an illustration for individual IP and houseperson’s cover through their website in “just a few simple steps”.
It says the system enables IFAs to produce IP quotes on a level or increasing basis, with the option to choose a weekly benefit amount or total premium figure.
Quotes incorporating multiple deferred periods can also be produced, it adds, while a calculator is available to help advisers estimate their clients’ shortfall based on salary and circumstances.
Advisers can then print the illustration, save the quote for retrieval later, or proceed straight to the online application form, which is pre-populated with the client’s details.
Dave Mace, head of eBusiness at Friends Provident, says: “This new development will make life easier for advisers and enhance the service they can offer their clients through the provision of a quick and efficient end-to-end online process.”
However, Linton Penman, head of retail marketing at IP provider Unum, says advisers prefer to compare IP costs between providers before getting a quote.
“This isn’t necessarily a step forward,” he says. “We find most IFAs like to do comparative quotes first and then to go and get more detail.”
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