Royal London enhances Personal and Business Menu plans
26 April 2017
Royal London announces today enhancements to its Personal and Business Menu plan propositions. The changes enable advisers to tailor cover to their clients’ needs and make it easier to submit business at application stage and maintain flexibility throughout the life of the policies. Advisers can now write multiple plans on different start dates and apply for plans with different owners using a single application through an improved online service. Customer documentation has been updated too.
Ian Smart, Product Architect at Royal London said: “Royal London is the pioneer of the menu proposition. Our menu plans offer customers a flexible plan for life that can keep pace with their changing protection needs. Advisers can now specify a different owner and start date for each cover, within a multi-benefit application. In addition they only need to submit one application, one direct debit and the plan charge is split across all the plans.”
Enhancements include an improved customer journey so advisers can:
- choose different start dates for each cover, for example an adviser could start a client’s family cover immediately and their mortgage protection once the mortgage has completed;
- choose a different owner for each cover within a multi benefit application;
- start accepted covers immediately while assessment of other covers is progressing;
- receive dashboard reminders to enter start dates online with no need to call us;
- understand when plans are automatically split where there may be a taxable event.
All of this can be done from a single application with one direct debit.
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For further information please contact:
020 7506 6719
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £100 billion. Group businesses provide around 9.0 million policies and employ 3,253 people. (Figures quoted are as at 31 December 2016)