APPLICATIONS, PRE SALES UNDERWRITING & LIFESTYLE REVIEWS Terry Lucas 8 June 2018
APPLICATIONS, PRE SALES UNDERWRITING & LIFESTYLE REVIEWS AGENDA Applications, Pre Sales Underwriting & Lifestyle Reviews • Pre Sales Underwriting • Send to Client • Estimate Decisions • Lifestyle Review • Enhanced CI with Royal London
PRE SALES UNDERWRITING TOOL
APPLICATIONS, PRE SALES UNDERWRITING & LIFESTYLE REVIEWS PRE SALES UNDERWRITING TOOL What can I use this for? Height & Weight Medical Issues Smoking (BMI) Occupation Family History Pastimes Routine Medical Alcohol Limits 4
APPLICATIONS, PRE SALES UNDERWRITING & LIFESTYLE REVIEWS PRE SALES UNDERWRITING TOOL What can I use this for? Height & Weight Medical Issues Smoking (BMI) Occupation Family History Pastimes Routine Medical Alcohol Limits 5
ADVISER.ROYALLONDON.COM
ROUTINE MEDICAL LIMITS FRED – BMI ISSUE? NOT SURE? • Fred, age 55 • Possible BMI issue? – 5ft 10in - 16st 5lbs? • Life or earlier CI • Non Smoker 7
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terry.lucas@royallondon.com 8 June 2018
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HEIGHT & WEIGHT (BMI) RATING
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ROUTINE MEDICAL LIMITS
ROUTINE MEDICAL LIMITS JOHN – LARGE CASE • John, age 40 • Applying for Life or earlier CI • Non Smoker • Applying for £1,500,000 sum assured 30
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FAMILY HISTORY
FAMILY HISTORY MOTHER DIED FROM BREAST CANCER • Sam, female age 30 • Life or earlier CI • Non Smoker, Good Health • Mum died from breast cancer age 55 38
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ESTIMATE DECISION?
ROYAL LONDON ESTIMATE DECISION • Based on the information you’ve entered so far in the application • At any point, you can ask for an estimated decision • Here’s what it looks like… 52
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SEND TO CLIENT…
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ROYAL LONDON ESTIMATE DECISION Client receives an email with a simple link to the application form where they can complete it 67
LIFESTYLE REVIEW
LIFESTYLE REVIEW BECAUSE THINGS CHANGE Wha hat t is is it? it? • If cover is accepted on non standard terms or smoker rates, and your clients lifestyle changes, we may be able to reduce their premium. • Just give your usual Royal London contact a call. Examples Examples • Giving up Smoking • No longer participating in hazardous sports • Reduced BMI • Improved Health – i.e. blood pressure / cholesterol 69
UNDERWRITING WITH ROYAL LONDON
UNDERWRITING WITH ROYAL LONDON Clients who Clients who Client with raised Client with raised smoke non smoke non HIV Cholesterol Cholesterol nicotine Vapes nicotine Vapes
ENHANCED CRITICAL ILLNESS COVER
CHILDREN’S CRITICAL ILLNESS COVER THE NEED FOR COVER No one likes to think of a child becoming critically ill, but it does happen 10 100,00 0,000 children and young people are estimated to be living with serious health needs in the UK 1 Children’s critical illness was the fourth main reason for a claim on our Critical Illness Cover in 2016 2 And the average age of a child at claim was just eight years 2 Sources: 1. Impact Report: Building on a Decade of Care, wellchild.org.uk, 2017. 2. Royal London UK protection business claims paid (1 January to 31 December 2016).
MADE TO MEASURE HOW WE CAN HELP We now have three Children’s Critical Illness Cover options to meet your clients’ needs and budgets. Enhanced Children’s Critical Illness Cover Our most comprehensive cover, tailored for families to provide cover from pregnancy to young adulthood. Standard Children’s Critical Illness Cover Covers children for our 45 main critical illness conditions. No Children’s Critical Illness Cover If clients don’t have children we don’t think they should pay for extra cover they're not going to claim on.
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 50% of adult cover up to £50,000 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER We’re committed to offering your clients cover where it matters. That's why we've focused on conditions that are most common among babies and young children 12 child-specific conditions • Cerebral palsy Hydrocephalus - treated with the • • Child diabetes mellitus type 1 - requiring insertion of a shunt permanent insulin injections • Muscular dystrophy Child intensive care benefit - requiring • • Osteogenesis imperfecta mechanical ventilation for seven days • Patau syndrome • Craniosynotosis - requiring surgery Spina bifida • • Cystic fibrosis • Down’s syndrome Edwards syndrome •
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 50% of adult cover up to £50,000 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 50% of adult cover up to £50,000 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness 25% of adult cover up to £25,000 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness £5,000 for each affected pregnancy 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
ENHANCED CHILDREN’S CRITICAL ILLNESS COVER NINE PREGNANCY COMPLICATIONS Our new additional condition gives parents-to- be reassurance that they’ll have some financial support if they experience difficulties during pregnancy Ect ctop opic pr c pregn gnan ancy y with h Diss Dissemina minated In Intravasc vascular lar Eclamp Ec lampsi sia (e (exclud luding ing surgery sur y to remo move a a Coagula Co lation ion (DI (DIC) C) pre-eclamp lampsi sia) fall llopian ian tube Foetal l death i in ut utero aft fter Neo-natal l death – at lea least st Hydatidif idiform mo mole le at lea east st 20 20 wee eeks ks ge gest station on 20 w weeks s gest station ion Plac acen ental al abr brup uption on New Bo Born St Stil ill l bir irth aft fter a at lea least st (exclud (e luding ing plac lacenta intensi int sive Ca Care 24 w weeks s gest station ion praevi via)
MADE TO MEASURE ENHANCED CHILDREN’S CRITICAL ILLNESS COVER 12 child-specific 45 main critical illness Cover for terminal conditions conditions illness £5,000 on the death of a child 14 additional Extra additional Pay out on the death conditions condition: of a child pregnancy complications
MADE TO MEASURE FULLY FLEXIBLE PROTECTION When it comes to children’s cover, there's no one -size-fits-all. Families all have different needs – which change over the years Clients can change their Children’s Critical Illness Cover option at • any time during the term of their plan They can upgrade their cover with no underwriting •
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