Price is more important than product features or service for advisers choosing a provider when writi...
Price is more important than product features or service for advisers choosing a provider when writing business protection, according to a survey released by Bright Grey.
As a result of the findings, the provider said it would extend its 5% reduction on business protection placed on its books until 31 January 2009.
The offer, the provider said, applies to all business protection life covers, critical illness (CI) covers and life or CI covers.
The study showed that while 85% of advisers placed business protection based on price, only 52% said product features or service are an important factor when making this choice.
Roger Edwards, proposition director at Bright Grey, said: "In the current climate especially, it doesn't come as any surprise that the majority of advisers place their business based on competitive premiums, but it's vital that other factors aren't overlooked and consideration is given to the product as a whole."
He continued: "Business protection propositions that offer the best value include a variety of different elements. That's why our decision to extend the 5% discount, the practical support we offer through Working Transitions, along with the service from our highly experienced underwriters and dedicated customer support team give us a very powerful and competitive offering."
The provider's business protection propositions are flexible menu-based products, allowing advisers to tailor a package for businesses needing loan, share or key person protection.
