The guided process ensures that essential parts of the form cannot be left uncompleted, and the process also ensures that people cannot sign in the wrong order, both of which are common reasons for paper forms being returned for amendment.
We’ll even notify you when the form is complete so you can download a copy of the form for your own records. This process can be used with new applications as well as policies that are already in force.
So, as an adviser, you are in control and can choose when in the sales process you want to introduce the concept of using a trust.
This means that for policies like relevant life or business protection where it is essential the trust is in place before the policy starts you can do this at the same time as the online application.
But for personal or family protection, while it may be good practice, there isn’t the same need to set the trust up immediately. It can be done at a time that suits both you and the client without disturbing the sales process.
The process is exactly the same irrespective of whether it is a new application or the policy is already in force. It also means that you can revisit any plans sold previously where the client never got round to completing the paper form and add the trust now.
Perhaps you have clients coming up for an annual review where their policy wasn’t previously written in trust. This new facility allows you to do this quickly and simply.
If you do, please let us know what you think of it.
Ian Smart is product architect for Royal London
