ProtectionAug 14 2015

Friends Life updates income benefit calculator

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Friends Life updates income benefit calculator

Advisers using Friends Life’s quotation platform can now generate their client’s maximum benefit by just entering their gross annual salary and any other income, alongside their annualised net ‘sick pay’ figure.

Friends Life said advisers should now be able to clearly see how much income benefit their clients are eligible for while they receive sick pay, as well as when these payments cease.

The insurer said the update to the calculator will enable advisers to use the Protect Plus product to tailor benefit level and its start date in line with the client’s employee benefits.

Louise Colley, managing director of protection at Friends Life’s parent company Aviva, said: “Making the process of applying for protection easier and clearer for both advisers and their clients is one of Aviva’s key steps towards improving the level of protection in the UK.

“These enhancements to the benefit calculator will make offering high quality protection cover through Protect Plus a much more straight-forward and positive experience for advisers.”

The improvement to the maximum benefit calculator follow benefit enhancements to Friends Life’s Protect Plus income protection proposition announced earlier this month.

Improved guaranteed benefits of up to £1,500 a month are now available along with improved therapy benefit up to £200 a year, and a new significant professional development guaranteed insurability option for customers who receive significant pay increases.

emma.hughes@ft.com