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Aegon launches faster underwriting for business protection

Insurer has also updated its relevant life plan

Aegon has extended its personal protection online application process to business protection and relevant life.

The insurer said there are now more opportunities for advisers to receive an immediate online decision for business protection applications, helping them to get their clients’ business protection in place quicker.

Advisers benefit from a new streamlined application service, quicker underwriting decisions and estimated prices showing the impact of specific client disclosures.

There are also more opportunities for clients to take advantage of Aegon’s multi-benefit and multi-policy discounts.

Advisers can apply for multiple benefits in a single online application, enabling them to apply for continuity and succession planning solutions together, as well as relevant life and executive income protection. 

In addition to these enhancements, Aegon has added new features to its relevant life policy.

These include accidental death benefit for up to 60 days, when advisers use Aegon’s declaration of trust for a relevant life policy; a range of guaranteed insurability options; and improved immediate cover facility – Aegon now only needs proof of earnings for benefit amounts over £2.5m. 

Simon Jacobs, head of claims and underwriting at Aegon UK, said the enhancements will go some way to helping save advisers’ time and simplify the application process.

“Whether they’re already active in this market, or are looking to dip their toe in, we can provide help and support, from approaching clients, to developing professional connections, to creating solutions to meet their clients’ individual business protection needs,” he added.