Holloway FS launches telephone medical underwriting on income protection policies
Wed, 13 Oct 2010
Holloway Friendly Society is reducing broker liability by introducing tele medical underwriting on its income protection policies.

Until recently, when applying for income protection for their clients, IFAs have had to fill in a detailed application form, which involved investigating their clients' medical history. This is now no longer necessary. This will be beneficial for advisers as they no longer have to be responsible for submitting information about health and can therefore avoid all liability in case a client has not disclosed all they ought to.

Advisers will have just have to fill in a two-page form, instead of six pages with their clients and the rest of the process will be completed by Holloway Friendly over the telephone . The telephone interviewing will reduce the need for doctor's reports by between 80 per cent and 90 per cent and as a result, the case will be underwritten more quickly and easily.

Matthew Manser, sales and marketing manager at Holloway Friendly, said: "The introduction of telephone-interviewing will take all risk from advisers, while also shortening the time it takes for an IFA to set up an income protection policy for their clients."
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