Income Protection

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Why Income    Income Protection   Why choose                   Your latest                       Income           Sales tools          Submit
                                               Sales process                 Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                    campaign                     Protection claims    and literature     business now




Income Protection
Boost your income, protect theirs

Start your Income Protection sales journey here




                                                                                                                  For Advisers only. Not for use with customers.
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Why Income Protection?
Why Income     Income Protection    Why choose                              Your latest                          Income           Sales tools          Submit
                                                      Sales process                        Underwriting                                                                Contact us
Protection?      nuts and bolts      FRIENDS?                               campaign                        Protection claims    and literature     business now




Income Protection can provide financial                               Despite this, Income Protection is vastly undersold.
peace of mind for clients that are unable to                          The protection gap alone has been estimated at a
work due to illness or accidental injury.                             massive £190 billion.***

                                                                      Income Protection should be at the heart of all
Income Protection should be a significant part
                                                                      financial planning as your clients may be unable to
of your clients’ financial planning; here are a
                                                                      cope without the financial support this type of policy
few reasons why…
                                                                      provides. This product presents huge opportunities
•	 Following the introduction of the new                              for you to ensure you are offering the best possible
  Employment and Support Allowance in 2008,                           advice for your clients, whilst generating an
  it is now much harder to successfully claim                         additional income for yourself.
  sickness benefits. Employment and Support
  Allowance only pays a maximum of £96.85                             How to sell more Income Protection
  per week, and over one third of applicants are
  unsuccessful.*

•	 Long term sickness is not uncommon; as of                            View our Welfare Reform Online Seminar:
  November 2009 there were nearly two million                           Opportunities to Sell or download our
  incapacity claimants who were unable to work                          ‘Come Rain or Shine’ sales aid
  due to illness or injury and 60% of these claimants
  had been claiming for 5 years or more.**




  * http://research.dwp.gov.uk/asd/workingage/index.php?page=esa_wca
 ** The department of Work and Pensions. http://83.244.183.180/100pc/ib/tabtool_ib.html
*** Swiss re Term and Health Watch report 2009. http://www.swissre.com/media/media_information/increased_sales_of_whole_life_and_individual_income_protection.html



www.friendsprovident.co.uk/iptoolkit                                                                                                                                                Page 2
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Income Protection nuts and bolts
Why Income    Income Protection   Why choose                   Your latest                       Income           Sales tools          Submit
                                               Sales process                 Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                    campaign                     Protection claims    and literature     business now




Income Protection is designed to help
provide your client with a proportion of
their income if they are unable to work due
to illness or accidental injury, helping to
give them financial peace of mind.

To calculate the amount of income your client
can protect – use our…

Income Protection calculator

We offer a comprehensive Income Protection
Policy, find out more through our Key Facts
document or Policy Conditions…

Key Facts

Policy Conditions

Friends Provident will provide an efficient
and professional service while applying an
underwriting philosophy that supports our
ethical reputation. We offer an extensive
Underwriting Guide for Advisers…

Underwriting Guide




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Why choose FRIENDS?
Why Income     Income Protection   Why choose                        Your latest                          Income           Sales tools          Submit
                                                   Sales process                     Underwriting                                                             Contact us
Protection?      nuts and bolts     FRIENDS?                         campaign                        Protection claims    and literature     business now




Income Protection –                                         •	 Guaranteed insurability – this option allows              •	 Tailored Doctor’s sick pay initiative and
                                                              your client to increase their cover on the                   Doctor’s sabbatical cover
why choose FRIENDS                                            happening of certain events without having
                                                                                                                         •	 Cover for residence abroad – we offer
Our competitive offering and marketing                        to provide any further details of health,
                                                                                                                           worldwide cover once a policy has started.
support can help you to grow your                             occupations or pastimes. Clients can increase
                                                                                                                           Please refer to the Income Protection policy
business, whilst your clients can                             their original cover amount by up to 30% per
                                                                                                                           conditions for full details
benefit from a comprehensive                                  event. Option available at an additional cost

Income Protection policy.                                                                                                •	 Pension contribution protection benefit –
                                                            •	 Career break option – if your client chooses
                                                                                                                           we are the only provider to offer this to
                                                              to cease work, they can replace their Income
Here are just some of the many benefits                                                                                    your clients
                                                              Protection policy with a career break option
our product can provide:                                      policy. Their Income Protection policy will be             •	 Maximum ceasing age 70 – to cover those
•	 Tele-interviewing for new applications –                   suspended and they’ll have up to 5 years to                  clients who wish to retire later
  to ensure a seamless underwriting experience                reinstate it on the original terms and conditions
                                                                                                                         •	 Dedicated claims assessor – to assist your
•	 An own occupation definition – the majority              •	 Proportionate Benefit – this benefit pays out               clients with the best possible service in the
  of your clients are assessed on the ability to              a regular income if your client is still medically           event of a claim
  perform their own occupation                                unfit to perform the material and substantial
                                                              duties of their own occupation, but takes up a             •	 Executive Income Protection – we provide
•	 Hospitalisation benefit – offered at no                    different, less well-paid occupation                         a tailored Income Protection product to meet
  extra cost                                                                                                               your corporate clients needs, why not view
                                                            •	 Rehabilitation benefit – this benefit pays out              our online seminar to find out more
•	 Guaranteed premium rates – making it easier                a regular income if your client returns to their
  for you to help your clients plan for the future            own occupation in a reduced capacity and for
  with no unexpected premium rises
                                                                                                                         Income Protection toolkit
                                                              lower earnings because of their continuing
                                                              partial incapacity
•	 Waiver of premium included as standard –                                                                              Statement of demands
  clients will not need to pay premiums when                •	 Houseperson’s benefit – in the event                      and needs
  receiving benefit                                           of incapacity, clients who work less then
                                                              16 hours a week could receive up to                        A comprehensive IP product
                                                              £300 per week                                              for your clients


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Sales process
Why Income    Income Protection   Why choose                        Your latest                       Income           Sales tools          Submit
                                               Sales process                      Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                         campaign                     Protection claims    and literature     business now




We can provide you with the tools and                          Take a look at our 4 stage sales process
support to help you enhance your sales                         for more information
process to better enable you to maximise
your income.                                                   In addition we have a whole host of other
                                                               support to help – from objection handling
We can provide 4 techniques that will
                                                               techniques, to case studies, to online seminars,
help you to:
                                                               to marketing support material. Check out our
•	 Secure profitable sales at every meeting                    free Income Protection toolkit to see how we
                                                               can help you sell protection more effectively.
•	 Minimise and overcome objections
•	 Generate multi sales                                        Income Protection toolkit

And therefore maximise the value of each
of your clients.




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Your latest campaign
Why Income     Income Protection   Why choose                             Your latest
                                                                          Your latest                            Income           Sales tools          Submit
                                                    Sales process                         Underwriting                                                               Contact us
Protection?      nuts and bolts     FRIENDS?                              campaign
                                                                          campaign                          Protection claims    and literature     business now




                                                                    Life Changes Sales Aid (Customer
                                                                    Facing - PDF)
                                                                    Helps demonstrate to customers that it doesn’t matter
In recent years lifestyles have changed                             what life stage they are at, they still need financial
and we’ve looked to understand what this                            protection. You can also use this to help customers plan
                                                                    for the future, encouraging regular reviews to make sure
means for financial advice and providing
                                                                    they are protected when their life stage changes.
protection to your customers. Although
big events still take place, such as buying
a house, getting married and starting a                             Customer facing letters and
family, the time when people choose to do                           emailers
this has changed.                                                   You can use these letter and email templates to target
                                                                    customer segments as seen on the life changes online
To help you prepare your customers’ finances for these big          seminar and online tool. They include interchangeable
events, we have created some tools to support you.                  sentences that allow you to control the content:

Tools                                                               Customer Letters             Customer Emailers
Life Changes Online Seminar                                         Starters                     Starters
Examines the changes that have happened to lifestyles
over the last couple of decades and looks at seven life             Couples                      Couples
stage categories and provides case studies for each.
                                                                    Families                     Families
Life Changes Online Tool                                            Mid Life                     Mid Life
Contains support material and example personas.
                                                                    Over Fifties                 Over Fifties




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Underwriting
Why Income    Income Protection   Why choose                             Your latest                        Income           Sales tools          Submit
                                                   Sales process                        Underwriting
                                                                                        Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                              campaign                      Protection claims    and literature     business now




Friends Provident provide an efficient                             Tele-interviewing is available for new
and professional service while applying                            Income Protection applicants.
an underwriting philosophy that supports                           Tele-interviewing helps to improve the underwriting
our ethical reputation.                                            processes in place for new applications. Each interview
                                                                   is run between a qualified, experienced nurse and the
We will achieve this by applying the following                     client. By requesting a nurse tele-interview, where in
key principals:                                                    many cases we would normally request a General
•	 Accepting as much business on standard terms,                   Practitioner’s Report (GPR), the application process
  as quickly as possible, whilst recognising the need              can be much quicker.
  to charge the right price for the risk.
                                                                   Adviser underwriting guide (PDF)
•	 Adopting a consistent, fair and equitable
  underwriting approach to all of our customers.
                                                                   Adviser medical underwriting
•	 Putting the customer to as little inconvenience                 guide (PDF)
  as possible.

•	 Operating a strict policy on confidentiality.                   Consumer underwriting
                                                                   guide (PDF)
•	 Being aware of and complying with all relevant
  legislation and industry codes of practice.
                                                                     Underwriting helplines
•	 Making the maximum use of technology.
                                                                     Non eSelect cases please call:
•	 Providing underwriting helplines, staffed by                      0845 757 3036
  experienced underwriters giving you direct
                                                                     eSelect cases please call:
  access to the experts that can help clarify
                                                                     0845 600 8969
  or explain decisions.
                                                                     Available from Mon-Fri, 9.00am to 5.30pm




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Income Protection claims
Why Income    Income Protection   Why choose                         Your latest                        Income
                                                                                                         Income          Sales tools          Submit
                                                 Sales process                      Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                          campaign                      Protection claims
                                                                                                   Protection claims    and literature     business now




Income Protection claims                                         Friends Provident Income
                                                                 Protection claims 2009
Your clients may think it won’t happen to
them, but being unable to work because of
illness or accidental injury is not uncommon.

•	 Recovery takes time. Your clients and their
  family could potentially be without earnings for a
  long time.

•	 Our statistics show that in 2009 Friends Provident
  paid out £26.49 million in Income Protection
  claims and as of January 2010, 57% of Income
  Protection claims had been in payment for
  5 years or more.


Causes of an Income Protection                                     Disorders of the circulatory system 9%
claim
                                                                   Accidents 6%

Claims support from FRIENDS                                        Cancers 10%

                                                                   Disorders of the nervous system 11%

  Claims helplines                                                 Mental health disorders 33%
  Make a claim                                                     Musculo-skeletal disorders 19%
  0845 266 2255
                                                                   Other 12%
  Available from Mon-Fri, 9.00am to 5.00pm




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Sales tools and literature
Why Income     Income Protection   Why choose                     Your latest                         Income           Sales tools
                                                                                                                       Sales tools          Submit
                                                Sales process                    Underwriting                                                             Contact us
Protection?      nuts and bolts     FRIENDS?                      campaign                       Protection claims    and literature
                                                                                                                      and literature     business now




Here are all the tools you need to sell
Income Protection more effectively


Information for you                                      Sales support for your                                      Online seminars
Statements of demands and needs –                        clients                                                     Life Changes
protection                                               Life Changes online tool                                    Executive Income Protection
A comprehensive Income Protection plan                   Life Changes sales aid (PDF)                                Friends Provident Income Protection
Doctor’s Income Protection competitor                    Executive Income Protection sales aid                       Making Income Protection a priority
comparison
                                                         Offering you the protection you need                        The sales process and handling objections
Income Protection competitor comparison
                                                         Income Protection claims sales aid                          Welfare Reform
Income Protection taxation sales aid
                                                         Executive Income Protection letters
Selling Income Protection sales aid
                                                         Doctor’s sick pay initiative – Income
Key findings                                             Protection
Protect your clients’ lifestyle pack with                Welfare Reform sales aid
marketing tips and guidance

Protect your lifestyle, not just your
holiday flyer

Protect your lifestyle, not just your
holiday e-mailer

Employer Benefit template form

Protect your lifestyle, not just your
holiday letter




www.friendsprovident.co.uk/iptoolkit                                                                                                                                   Page 9
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Submit business now
Why Income    Income Protection   Why choose                   Your latest                       Income           Sales tools          Submit
                                                                                                                                       Submit
                                               Sales process                 Underwriting                                                            Contact us
Protection?     nuts and bolts     FRIENDS?                    campaign                     Protection claims    and literature     business now
                                                                                                                                    business now




To enable you to submit business in a way
that suits you, you can submit business
through one of the following three routes:

•	 Our award winning, highly intuitive underwriting
  platform, eSelect

•	 An electronic online application form
•	 Paper

To view a demo of eSelect click here

eSelect data capture form

The benefits of eSelect

How eSelect saves you time

eSelect quick points

eSelect submission process

Income Protection application form




www.friendsprovident.co.uk/iptoolkit                                                                                                                          Page 10
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Contact us
Why Income          Income Protection           Why choose                                         Your latest                              Income           Sales tools          Submit
                                                                        Sales process                                 Underwriting                                                              Contact us
                                                                                                                                                                                                Contact us
Protection?           nuts and bolts             FRIENDS?                                          campaign                            Protection claims    and literature     business now




Sales support
0845 601 0880
Underwriting helpline
0845 757 3036
Claims helpline
0845 266 2255
Email
central.sales@friendsprovident.co.uk
For more information visit our
adviser info centre



                                                                                                         Life & Pensions        2010
                                                                                                         Winner
                                                                                                         Income Protection
                                                                                                         Provider of the Year



   Incisive Media –                                  Finance & Technology Research                         Financial Adviser Life &                   Defaqto Rating
   Gold Standard Awards 2010                         Centre e-Excellence Ratings 2010                      Pensions Awards 2010
                                                                                                                                                      5 Star – Income Protection
   Winner – Protection                               Triple E – Income Protection                          Winner – Income Protection
                                                                                                           Provider of the Year

Friends Provident Life Assurance Limited
Registered and Head Office: Pixham End, Dorking, Surrey RH4 1QA
Incorporated company limited by shares and registered in England number 782698
www.friendsprovident.com         Telephone 0845 602 9189
Friends Provident, Friends Provident International and FRIENDS are registered trade marks of the
Friends Provident group of companies in the UK and other countries


PNSA122 11.10 (PDF)

				
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