PROTECT YOUR CUSTOMERS

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Our highly experienced Broker Support Team can support you when you are looking for a solution for your customers. Call them now on 0330 303 0236

Protection Toolkit.

Our protection toolkit, guidance, learning resources and support documentation will help you to have informed conversations with your clients whilst keeping you up-do-date with the best protection cover options.

Our expert resource banks will help you to find useful tools and guides to make selling protection to your clients and setting up quality policies simple and easy.

TALK TO YOUR CLIENTS ABOUT THEIR PROTECTION COVER.

Now more than ever, it’s vital to have honest conversations with your clients about their protection requirements, whether they’re new clients or existing. Stay up-do-date with your clients and be sure to assess and reassess their circumstances so you can advise the best protection options for them.

Take that extra time to listen, assess their situation and discuss the potential risks they may face in the future. It’s vital your clients understand the importance of cover and how it can give them peace of mind for the future, should the worst happen.

Shareable Videos – an up-to-date collection of useful video resources offering important insights into what to consider when discussing Protection with your clients, insightful case studies, an array of menus and much more.

Calculators – Protection calculators from some of the best in the industry will help you to help your clients make faster, more informed decisions about their Protection Cover.

Benefits Comparison Table – Our Benefits Comparison table is a useful tool for sharing the kinds of additional health, wealth and leisure benefits your clients may find invaluable as part of their cover.

Business Protection – Our Business protection section includes all of our relevant partners links and documents. Business protection will provide funds to repay a loan, commercial mortgage, or a director’s loan if one of the business owners dies or suffers a critical illness.

PDF Guides – Explore expert, relevant and up-do-date guides from just some of the top names in the industry.

Support – Our friendly, expert Broker Support Team are here to assist with all of your Protection questions and enquiries. If you’re already a TMA member and have a query about any of our services or tools, they’re here to help!

Underwriting – Our selection of underwriting tools will offer you in-depth support to assist you with your clients’ protection needs.

Benefits Comparison table

Our Benefits Comparison table is a useful tool for sharing the kinds of additional health, wealth and leisure benefits your clients may find invaluable as part of their cover. Log in to view and download our full list of protection panel “bolt-ons”.

Click here to view the full benefits table

Videos & blogs

Below you’ll find an up-to-date collection of useful video resources & blogs offering important insights into what to consider when discussing Protection with your clients, insightful case studies, an array of menus and much more.

If you’d like to explore more of our video resources, visit our YouTube page.

Blog Consumer Duty Protection

A huge protection opportunity for adviser firms?

a huge protection opportunity for adviser firms? Shelley Read, Senior Intermediary Development and Technical Manager…

Rebecca MarksAugust 1, 2023

Blog Consumer Duty Protection

Unpacking Consumer Duty: What do ‘good client outcomes’ look like?

Unpacking Consumer Duty: What do 'good client outcomes' look like? At the heart of the…

Rebecca MarksAugust 1, 2023

Blog Consumer Duty Protection

Meeting Consumer Duty obligations with trusts and advice

Meeting consumer duty obligations with trusts and advice Consumer Duty rules are coming fully into…

Rebecca MarksMarch 20, 2023

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Income Protection

Having as much information on Income Protection at you fingertips here can help the client conversation.

If your client is unable to work because of a sickness or an accident, not knowing if they can pay their bills causes additional worry and stress. Income Protection alleviates that with cover options that pay out when it matters. Income Protection is typically used to cover clients in less risky occupations (usually office workers) who want to protect their own income.

Numerous providers off plans that offer more than just financial protection with access to Mental Health & physical Support, GP consultants and much more.

Find out more from our providers below;

Royal London Income Protection plan

3 minutes

Aviva Income Protection life story

6 minutes

Guardian Income Protection Webinar

1 hour

Aviva Income Protection Overview

2 hours and 1 minute

TMA Partners who cover Income Protection;

Business Protection

Business protection will provide funds to repay a loan, commercial mortgage, or a director’s loan if one of the business owners dies or suffers a critical illness. Our Business protection section includes all of our relevant partners links and documents.

Many businesses take out loans to start up a company or to expand their operation. And their ability to repay often rests on a few key people. Insurance helps to pay an outstanding loan if any of those key people were to become critically ill or die.

Protection for every business;

Executive Income Protection
Key Person Protection
Key Person Income Protection
Share Protection
Business Loan Protection
Relevant Life Plan

Click here to find out more about Business Protection

AIG

Business loan protection insurance will provide funds to repay a loan, commercial mortgage, or a director’s loan if one of the business owners dies or suffers a critical illness. Your client can protect the full loan or mortgage amount with life cover, or life and critical illness cover. When they make a claim, the sum assured is either paid to the business or directly to the lender if the policy has been assigned.

To help make this easier AIG have a Business Protection guide designed to help support and streamline your advice process and a handy guide to provide an example of what a ‘reasons why’ letter could look like.

AVIVA

Aviva offer two Business Protection products, Business Life Insurance Options and Relevant Life Insurance, each offer flexible cover and a range of options.

Like other relevant life insurance products, ours provides a death-in-service benefit for your clients’ key employees. But unlike others, it offers employee significant illness cover – a unique option which pays out if an illness covered by the policy leads to retirement or anticipated retirement.

We’ve gone the extra mile to develop this tax efficient offering which HMRC has confirmed operates within current legislation. Find out more and discover the difference between the products available.

LEGAL & GENERAL

Legal & General business protection products are designed to be comprehensive and flexible, so you can offer cover that’s made to protect every company, key person, partnership and beneficiary.

Business Loan Protection helps cover key people or individuals in a business. It helps your client’s business pay off any outstanding loans or debts if the life insured becomes terminally ill (life expectancy less than 12 months) or dies. Critical Illness Cover and Critical Illness Extra can also be added when taking out the policy.

Take a look at their key features, documents, tool and calculators and more.

LV=

LV= are committed to protecting and supporting UK businesses, their Business Protection comes with a range of options, are flexible and can help you offer the best solution to your client.

If you’re new to business protection, their Business Protection guide contains all the information you’ll need. From product profiles, target market, suitability, risks and main features – you’ll find the details you’ll need to be aware of.

ROYAL LONDON

You would probably find it unthinkable not to have insurance protecting your business contents from the effects of fire or burglary.

However, the effect of losing one of your key employees through death, illness or injury could have a much worse impact. Comprehensive cover is vital to help your business recover quickly and minimise the effect on your profits should an unfortunate event happen.

Click here to find out more and to protect your business.

SCOTTISH WIDOWS

Business protection and relevant life cover policies account for only 2.1% of protection sales, with pure business protection less than 1%*. With over 1.4million small to medium sized businesses in the UK with employees**, there’s a clear need for protection should something happen to a key employee . We’re here to help you identify the opportunity to provide your business clients with the protection they may need.

Take a look at how protection can help your clients’ businesses with their adviser guide and explore where the business protection opportunity lies, how you can help, and what support we can give.

Find out about the cover available for your business clients.

Vitality

Business Protection is one of the best ways to safeguard the future of your client’s business, by protecting the people who matter most to their business’ success.

Vitality have a Business Protection Toolkit giving all advisers quick access to everything you need to support your client conversations. Their Business Protection cover options give you the reassurance and support to protect your business and the people behind it. Vitality provide plans that are relevant to the needs of your business and that pay out when you need it. They also take a unique approach to insurance by integrating wellness into products through the Vitality Programme offering Business Protection that provides access to discounts and rewards that encourage you and your employees to be healthy.

Click here to find out more.

Zurich

A business is built by its people, so the unexpected loss of a key person or owner through critical illness or death is likely to have a significant impact on its ability to continue trading profitably and may even lead to its closure.

Zurich Business Protection provides comprehensive cover for key people and owners. It includes the same critical illness conditions and features as our Personal Protection policies. If the worst happens, funds are provided to help the business continue trading, repay debt or provide a payment to a seriously ill owner for their share of the business, or their family if they die.

Find out more with our Business Protection Guide or visit their Business Protection website page here.

Calculators

Protection calculators from some of the best in the industry will help you to help your clients make faster, more informed decisions about their Protection Cover.

To use the protection calculators click here

AVIVA

AIG

HOLLOWAY FRIENDLY

BRITISH FRIENDLY

LV=

LEGAL & GENERAL

SCOTTISH WIDOWS

ROYAL LONDON

ZURICH

UNDERWRITING TOOLS

Our selection of underwriting tools will offer you in-depth support to assist you with your clients’ protection needs. If you have further questions about underwriting for protection, please don’t hesitate to give our friendly Broker Support Team a call. They’re always happy to help!

Click here to access TMA Protection Provider underwriting tools

AIG

View AIG’s range of support materials, essential forms and underwriting information.

The underwriting guides including the covering non-medical limits, height and weight, occupations, driving and financial underwriting. Underwriting decisions may differ due to the coronavirus pandemic.

GUARDIAN

As an in-depth drilldown into each of their products underwriting limits Guardian have multiple website pages including their limits, non medial limits, BMI and medical underwriting.

Holloway Friendly

Quick reference underwriting guide
Watch this with an accompanied . This guide is designed to help you through the underwriting process by detailing:

The types of medical evidence Holloway ask for
The types of decisions Holloway may offer
An explanation of each condition
The information Holloway need to know for each condition
An indication of terms that may be offered for the most common medical conditions Holloway are asked about.

Legal & General

Accurate underwriting is essential to providing your clients with a fair price for their cover and ensuring valuable benefits are not lost through misrepresentation. How your client lives their life, what they do for a living and where they live all have an impact on the cost of their cover.

Get familiar with the details of the underwriting process, medical evidence requirements and Legal & General’s straightforward claims process.

To help, outlined are the most requested documents.

LV=

LV= understand that a simplified underwriting journey is important to you. They’ve ensured you can make full and accurate disclosures easily, giving the confidence that a claim will be paid.

ROYAL LONDON

When your clients buy one of Royal London’s protection plans, they’re buying a promise that, should they suffer from something that’s covered under their plan, Royal London will pay out money to help provide them with financial security.

Everyone is different and this means that each client poses a different level of risk. The Royal London Measuring Risk guide looks into emphasising the potential impact of misrepresentation, tools of the trade, a full medical underwriting guide, family history and more!

SCOTTISH WIDOWS

We aim to provide your clients with instant decisions and access to immediate cover.

If we do ask for evidence, although we are able to capture full disclosures during the online questionnaire, we only ask for evidence we need to provide you with a decision.

From easy access to more kinds of cover, including mental health issues, and instant decisions, discover how our transparent, tailored and inclusive underwriting can help you protect more clients.

THE EXETER

The Exeter have created a series of downloadable underwriting questionnaires including;

VITALITY

The process of underwriting is where Vitality decide if they can offer a customer the cover they have applied for and what premium they should be charged.

The application process involves answering questions that are designed to capture the information we need to build a clearer picture of the life to be insured and the risk factors which may increase the likelihood of them claiming.

ZURICH

At Zurich our goal is to create an easy and fast application journey and to individually underwrite each client to provide fair and accurate terms that are tailored to their personal circumstances.

We’re constantly developing our underwriters and underwriting system. This ensures we’re always up to speed with the ever changing world of medicine and protection products. Our underwriters have on average 15 years experience, so you and your client will have plenty of support on hand.

Trusts

A trust is a legal arrangement. It allows the owner of property (the settlor) to transfer legal, and/or beneficial, ownership of that property to other persons or a company (the trustees). The person or company receiving the property holds onto it for the benefit of third parties (the beneficiaries).

AIG are one of our many providers has created a guide explaining how trusts work for Protection policies. Click here to download the online guide.

By placing your client’s protection policy in a trust, they can benefit from:

Better control – Trusts make sure the money goes to the right people at the right time
Faster payments – Trusts exclude life insurance benefits from probate, so the money can be paid quicker
Reduced inheritance tax – The money paid out won’t pay into your client’s estate, which helps to reduce any potential inheritance tax bill
Protects those who are most important – Your client can nominate the beneficiaries they want

How do trusts work?

Writing a protection policy in trust means the right people receive the right money – at the right time.

The settlor gives the policy to trustees.
It’s usually best practice for the settlor to also be a trustee.
The trustees would make a claim and pay the proceeds to the beneficiaries.
Usually for Business Protection the trustees are the business owners, but for Relevant Life Cover they would also include family member, or close family friends for example.
Trustees can be changed through the insurance provider – this must first be agreed by all other trustees.
The settlor selects the trustees – there should be a minimum of two in addition to the settlor for all cases.
Trustees legally own the policy and look after it on behalf of the beneficiaries.
Trustees must be over 18 years of age (or over 16 years of age in Scotland), and be of sound mind.
For business protection cases that need to be written in trust, the trustees are usually the shareholder or partners within the firm.
If a trustee dies, a replacement may be needed.

To find out more about trust download our Trusts protection table and click on each of the logos.

Download the TMA trusts product table

SPEAK TO US ABOUT PROTECTION

Our friendly, expert Broker Support Team are here to assist with all of your Protection questions and enquiries. If you’re already a TMA member and have a query about any of our services or tools, they’re here to help!

Give them a call on 0330 303 0236
or

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