Best Insurance has been championing the customer requirement of quick and easy acceptance for long term income protection insurance policies. British Friendly has taken on board the suggestions and has recently launched their “Immediate Acceptance Policy”.
Best Insurance was the first to put through a long term income protection insurance platform. Kesh Thukaram, Director of Best Insurance says that the new system of British Friendly that allows immediate acceptance is simple and easy to use and allows customers to get a full medical underwriting completed in one phone call. He added that the last thing customers want is complicated underwriting structures and be constantly on the phone with several people to get a policy incepted. This approach of British Friendly that allows customers to be accepted immediately reduces a huge amount of work load for the intermediaries as well.
In order to qualify for this long term income protection insurance policy, the applicants should be under 45 years of age, the policy should not be more than 5 years in terms of benefit amounts and the maximum benefit amount should be less than £300 per week. This policy covers accident and sickness only.
Best Insurance has seen a huge increase in the number of people taking long term income protection insurance. Streamlining the underwriting will only increase the demand as more and more people realise that it is not that complicated to get a long term income protection insurance policy.
This was also covered in the protection insurance press and more details can be seen in the seen in Cover Magazine.
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