Friends Life has announced enhanced free cover level limits and increased rate guarantees to 3 years on all Group Protection products in enhancements to its Group Protection Online quote system.
The service also allows advisers to create and amend Group Protection quotes for small to medium-sized enterprises (SMEs) with 3-100 members as well as allowing them to put schemes on risk whenever they need to.
Other enhancements include:
• Lower premiums
• The ability to create a Group Protection quote in five steps in approximately 20 minutes
• Group Critical Illness "Comprehensive cover" including Total Permanent Disability on a "suited occupation" basis*
• New ceasing age of ‘the higher of 65 or State Pension Age to a maximum of 68' for Group Income Protection and ‘a maximum of 70' for Group Critical Illness and Group Life
• Additional deferred period of 28 weeks for Group Income Protection
• Selectable commission level up to 30%
The product enhancements and the improved risk questions asked on the system will improve the adviser experience and increase the number of quotes for SME schemes that can be processed straight through online.
Commenting on the enhancements, David Williams, Director of Group Protection, said: "We listened to adviser feedback asking us for enhancements to the quote and new business process, and for improved product terms and conditions and I'm really pleased we've delivered them.
"For those who are already using the Friends Life Online Services these enhancements should make continuing to work with us much smoother. For those not currently using it, the improved online service sends out a strong message that we have a competitive proposition to meet clients' group protection needs which is easy to use."
