Quilter and Legal & General have launched tool for protection advisers called 'What are the chances'.
The tool allows users to input their gender, age, smoking status, retirement age aspirations and their attitude to risk into the tool. It then calculates what the chances are of someone needing to spend a month off work, suffering a serious illness or dying prior to retirement age.
The application has been designed specifically for Quilter advisers to help aid meaningful conversations about protection with clients and introduce the concept of managing their risk.
Quilter Financial Planning proposition director Charlotte Nixon said: "Protection is one of the most emotive parts of financial services and many clients find it difficult to contemplate how they or their family could manage if they fell seriously ill or passed away and therefore understandably choose to shy away from the conversation.
"The tool we have developed with L&G gives advisers the ability to illustrate to their clients in tangible figures the risks they and their family could face and give them tailored protection solutions, which suit their risk appetite."
Legal & General director of intermediary insurance Craig Brown added: "Legal & General is delighted to have been involved in developing the ‘What are the Chances' calculator with Quilter. This is a great tool to help Quilter advisers bring to life the potential likelihood of life events occurring that may lead to a protection claim, which will hopefully help advisers have even more engaging protection conversations with clients."
"Legal & General is committed to making things easier for intermediaries to protect as many customers as possible and this a great example of making this happen with our trusted partner Quilter."
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