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Tech firm launch comparison protection product

Wednesday, November 26, 2014

F&TRC, a financial services research company, has launched a service that compares the features and functions of life, critical illness and income protection products.

The service, called Quality Analyser for Protection, compares over 40 different elements of a protection product including conversion options, guaranteed insurability, plan options, critical illness definitions and permanent disability.
Advisers can prioritise different features and create a graphical analysis of the relevant product together with a client facing report summarising the products that score most strongly in the comparison. The adviser has the option to include the insurer’s precise policy wordings as part of the client report.

Similar services for mortgage protection, family income benefit business protection and relevant life will be launched in the coming weeks.
The Personal Finance Society (PFS) and the Chartered Insurance Institute (CII) have accredited the new service and have made available a library of structured CPD which advisers can access to grow their knowledge and meet their ongoing training obligations. The protection training allows advisers to choose to receive notifications of the availability of new training content on a weekly basis.

Ian McKenna, managing director of F&TRC, said: “Providing advisers with tools to compare the quality of products and match them to client needs, together with accredited training content, should complement advisers’ existing capabilities to help them deliver the best possible outcomes to consumers.”
Members of the PFS, CII and Society of Mortgage Professionals can access the service for free.

Category: Health Insurance

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