LifePlan New Business Enhancements for 2022
In 2020 we simplified the new business process for LifePlan allowing applications to be submitted electronically. We are pleased to announce a number of additional improvements to the LifePlan application process resulting in plans issued even quicker, clients being covered sooner and advisers getting paid faster.
So What's New?
Improved non-medical limits
We have increased the non-medical limits for all countries where we accept LifePlan new business. For some applicants the need to attend medical appointments will no longer be required. This may also mean that applicants can in apply for larger sums assured without the inconvenience of attending additional medical appointments.
We have also removed the need for clients to fast for a number of hours before undertaking blood tests. This gives clients greater flexibility on the time of day that appointments can be arranged; they will no longer be restricted to early morning appointments and won’t have to skip breakfast.
In lower age groups the need for an Exercise ECG to be done has also been removed. This should improve the experience for many clients who do need a medical in association with their application and cut down the time they need to spend at the clinic.
Details of the increased non-medical limits and requirements can be viewed in our Medical Underwriting Limits Guide.
Approved medical clinics
To assist you and your clients in the application process, we have produced a guide providing details of the RL360 approved clinics where those applicants who do require additional medical tests can attend.
For some of these clinics, RL360 have a direct billing agreement in place so that we can settle any invoices directly however, for those that don’t, we will reimburse the cost of any tests upon receipt of a completed Medical Cost Reimbursement form.
The list is not exhaustive and if the listed clinics are not suitable for your client or don’t have any immediate appointments available, we will be able to consider medicals carried out by any qualified medical doctor and clinic who are able to provide the results in English.
Enhanced formatting for illustrations and Key Information Documents (KIDs)
Based on the feedback we have received from key brokers, we have improved the formatting of both the illustration and KID to minimise any reduction in the clarity of the information provided when submitting scanned documents as part of the application process.
This will remove requests from our new business team for additional “clearer” copies, and therefore help reduce turnaround times when processing applications.
Medical evidence checklist
Based on an applicant’s residence and level of cover required, the illustration system will now produce a list of additional information needed for each life assured. This checklist will detail whether the life assured needs to undertake additional medical tests or complete or any other questionnaires to allow the underwriting team to assess the application.
If an adviser is using the LifePlan illustration system on to their computer, they will need to download the latest version for these changes to take effect.
If your client has any known medical issues and you want to know if we will need anything additional or different to the requirements listed on the illustration, please reach out to us before sending the client for their medical. We are happy to review or discuss any applications pre-submission, to check if we need to request anything that isn’t listed.
All the underwriting forms can be downloaded from our website.
Our underwriting team are here to help
We believe that these improvements will make it easier for you to recommend LifePlan to your clients however, if you have any questions at all, please do not hesitate to contact our Underwriting team who will be happy to assist you. underwriting@rl360.com