Waiting for GP reports to be returned to underwriters is apparently the most annoying aspect of writing and advising on protection products, according to IFAs attending recent Progress from Royal Liver roadshows.
A survey of delegates at the Progress breakfast roadshows – which today reaches London – indicates once the underwriting process begins, waiting for GP reports to be sent back to the provider can add as much as three weeks, or more, to the sales process, and in turn costs the provider and the intermediary both time and money. This is particularly frustrating to IFA and protection intermediaries when evidence suggests people under the age of 35 are 14 times more likely to have an accident than fall ill with a critical illness, yet only a quarter of the questions are asked are a person’s l...
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