Fracture cover breaks new ground

Friends Life Individual Protection has announced the addition of fracture cover for its life, critical illness and income protection products to the adviser portal and administration service from Direct Life.

The product has been launched on LifeQuote, which gives advisers the ability to search, select and transact on a single platform.

Its fracture cover pays a lump sum of up to £2,100 for one of 18 specified fractures during any 12-month period.

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Neil McCarthy, sales and marketing director, DirectLife, comments: “Friends Life has been one of the most innovative companies in recent years, and its fracture cover is very popular. However, adviser feedback shows that, on occasion, the extra time and thus cost associated with also having to log on to a provider intranet to select an additional product feature could prevent its inclusion.

“This is not an uncommon issue and, as we aim to be the most innovative service provider for insurers and advisers, we are working with the industry to ensure that all product features are available on our platforms.”

Adviser view

Dan Farrow, director at Essex-based SBN Wealth Management, said: “I think Friends Life’s fracture cover will appeal to those who play sports and are active, but I do not think that it is a major selling point.

“The litmus test is going to be how competitively priced the product is.”