Life InsuranceJul 17 2014

Zurich launches ‘whole of life’ cover online

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Zurich has launched its ‘whole of life’ products online, offering advisers access to online quotes and applications linked to the key industry portals, meaning customers can benefit from cover more quickly.

The launch followed research by the firm showing that over a third of advisers - 39 per cent from pool of 350 advisory firms during this month - have either doubled or tripled the amount of protection business they write online over the last five years.

The research also showed that the majority - 71 per cent - said they would like to see whole of life applications moving online.

The insurer has also reduced its minimum premiums to £8 per month, and £12 per month for indexed policies. I added that these policies can be used in areas such as funeral planning.

They will be underwritten online, meaning the premiums are likely to compare favourably with non-underwritten over 50s plans.

Peter Hamilton, Zurich’s head of retail propositions, said: “Making our whole of life cover available online is part of our commitment to advisers and customers of being easy to do business with.

“We’re seeing a real shift in the amount of business that advisers are doing online and continuing to invest in our products and services to facilitate this is key. It means quicker cover for customers, providing them with peace of mind sooner.”