Standard Life Protection & Healthcare Ezine

Standard Life's Protection & Healthcare newsletter for advisers

September 2006

Standard Life's Triple 'E' award winning 'Online New Business' system is now also available for you to submit Life Insurance with Tax Relief (LITR) business. Financial Technology Research Centre awarded us this accolade back in February this year.

The benefits for advisers

The Data Capture Form (DCF) mirrors the online system saving you time when entering data.
Intelligent underwriting for occupational and recreational ratings.
Client information entered at the quote stage is automatically populated onto the online system.
The policy number allocated at the start of the process remains the same throughout.
Automatic save functionality on each page.
Answer later facility.
Online submission can save you time.

Benefits for clients

We capture your clients' National Insurance numbers and employment status up front allowing us to apply a basic rate tax relief of 22% on payments.
Clean LITR cases have free cover and/or accidental death benefit for 30 days or until the signed declaration notice is returned, whichever is the earliest. This is viewable as a PDF on the application receipt page along with the confirmation schedule.
We also capture a 'wet signature' so clients can confirm all information entered online. It gives clients the opportunity to fully disclose all health and recreational information at application stage.
The data capture form includes a signature box, this gives Standard Life access to your client's medical records at application stage. Getting this signature upfront will speed up the underwriting process for clients who have a complex medical history.

Recent enhancements to Online New Business

Standard Life has relaxed its money laundering protection stance for protection products after recent changes in legislation. This applies to both LITR and LPS cases as they are now viewed as low risk. The automatic Equifax money laundering check online has been removed as a result.
A new summary page has been created. This displays details of the plan and also allows the adviser to re-print the confirmation schedule for up to 30 days after submitting the case.
A 'contact telephone number' field has been added for the adviser to complete, this will help the processing team source answers to queries.
Marital status now includes civil partnership, dissolved civil partnership and surviving civil partner.

Submitting business online

In order to submit business online on the adviserzone you will need either a User ID and Password or a Unipass digital certificate. If you haven't got a User ID and Password simply click here to register.

New Business Tracking

In addition to submitting business online you can also track the progress of your new business cases using Client View on the adviserzone.

What kind of protection business can be submitted online?

Life Insurance with Tax Relief (LITR), single life only, level and decreasing plans. Life Protection Series (LPS), joint or single life, level and decreasing plans.

20% extra commission

You can get an extra 5% Lautro commission by quoting your client's LITR plan on:

The Exchange
Webline
Assurweb
adviserzone

A further 15% Lautro commission can be obtained if you submit an LITR plan electronically through 'Online New Business'

5-star Service

All Protection business submitted online is supported by first class service - demonstrated by Standard Life's record breaking ten consecutive Financial Adviser 5-Star Service awards. All Protection literature including product and sales material can be found in the Literature section of the adviserzone.