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Protection market opportunities

The UK adult population is reportedly under-insured to the tune of £3 trillion*. That means every household needs around £100,000 of extra life cover on average. Our mission is to help you provide more protection advice and get clients the cover they need.

We have many ways to help you get into protection or grow your existing business.

Our priority is to remove the time-consuming administration and underwriting work inherent in writing this business. In addition, our state of the art technology delivers efficiencies all the way through the advice process: from research and quote, to application and ongoing servicing. We are also constantly developing new marketing and sales tools to help you develop new ideas and opportunities.

*Swiss Re. Protection Gap Research 2015

Doing some protection? You can do more

If you are currently doing some protection business, then we can help you grow it. For example, mortgage clients often lack the appetite to discuss protection at the end of the long mortgage process. In that case, talk to use about the following:

  • Our guide to cross-selling protection to take advantage of key opportunities
  • Our outsourced underwriting and administration services, which helps you streamline the process and reduce the burden on your own resources.
  • Setting up your own-brand, direct to customer site – for existing clients with families and mortgages but little or no life cover. We can even help you optimise traffic.

 

Not active? We can get you moving

If you don’t currently offer protection advice, we can help. Let us share our new ideas on how you can incorporate protection into your business model.

Investment clients are increasingly interested in protecting their estates, so they can pass on as much as possible to their heirs. This is driving ideas around ‘Asset Protection’.

Two option is to assess the effect of a premature death on achieving an investment goal, then using life insurance to cover any shortfall. Others options involve IHT planning, protecting assets against nursing home fees, and preventing asset erosion caused by deferred lending or equity release repayments. 

Retirement clients are benefiting from new thinking on using protection plus drawdown to replace the traditional annuity for spouses or dependents. Equally, as many clients increasingly need to work longer, the need for Income Protection in later life is becoming more important.

Tap into our resources

We’ve developed sales aids, guides and other support material to help you develop new protection business opportunities. Our provider partners regularly update our resources with their latest ideas. These complement the material produced by our team of LifeQuote protection experts.

 

 Visit our Resources Centre

Review our Commercial Terms