Epoq Legal has launched a service to provide protection policyholders with a simple, online way to deal with legal issues.
Legal for Life has been created by Epoq to provide an added benefit service that can be used regularly by protection customers.
Legal for Life was developed to complement protection products after extensive research and consultation with advisers over the past year.
The service is accessible online and can be included alongside a protection product to help insurers and advisers to:
• Create product differentiation
• Personalise offerings according to customer needs
• Engage with policyholders more frequently to aid retention
• Build customer loyalty and trust
Unlike current legal benefits add-ons, Legal for Life goes beyond the standard helpline and offers a range of customisable legal documents, contracts and letter templates, which are easily accessible online.
Protection clients can prepare their own wills, trusts and powers of attorney, as well as access an extensive library of jargon-free online guides to consumer laws and regulations.
Legal for Life also covers more everyday life activities and events like neighbour disputes, contracting with builders, requests for refunds, flight delay compensation demands and parking fine disputes.
Dave Jones, business development director at Epoq, said: "Our research among protection advisers last year showed that 81% of advisers believe that clients would find a legal service that helps them to handle legal matters, like making a will or power of attorney, of value.
"We have successfully implemented similar white-label legal products for other sectors, but following our research it became clear that our service is especially important in protection because it provides value even if the client never makes a claim."
Damian O'Connor, managing director at Roxburgh Financial Management, said: "The value of added benefits comes down to product differentiation and consumer benefit. For an insurer, these additional benefits make sense because it offers the clients something of real use that goes beyond a price tweak or obscure critical illness condition.
"As an adviser we know that clients do appreciate and use these benefits and it's very useful for retention to know that they have an ongoing reason to value their policy beyond just peace of mind."
