Legal & General announces Individual Protection Gender Response team in the countdown to the EU Gender Directive.
21 September 2012
Legal & General are delighted to launch their new 'Gender Response Team' in the countdown to the EU Gender Directive deadline of 21 December 2012.
The new team within the Individual Protection business will proactively contact advisers, their clients and third parties to help gather evidence to complete applications as quickly as possible, helping to secure gender specific premiums. This will be great news for advisers and customers who will be keen to get the best possible premiums before the deadline. Legal & General will work with advisers to ensure they make the most of the online quote and apply system OLP Connect (OLPC). 78% of applications on OLPC receive an immediate decision using the interactive route.
Legal & General also confirm that they will support any applications with gender specific premiums that need a start date after 20 December 2012, subject to certain conditions. *Advisers should contact their usual service team to find out how to arrange this as it's not something they'll be able to do automatically on OLPC.
These latest announcements show that Legal & General will be supporting advisers and customers all the way in the run up to the changes. The key is to get those applications in early and keep up to date on latest countdown news via their adviser websites which be regularly updated each week.
Stuart Welch, Actuarial Director for Individual Protection, Legal & General said;
"We've been working on gender response solutions for over a year and have had the interests of customers in mind at all times. Our new gender response team has a single objective - to ensure the completion process is effective. By coupling this with the use of Subject Access Reports to confirm medical evidence, we aim to give as many customers as possible the cover they need by the deadline and get commission payments to advisers. We want advisers and customers to know exactly where they stand on midnight on 20 December 2012."
Notes to editors
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions. The Legal & General Group, established in 1836, is one of the UK's leading financial services companies. As at 30 June 2012, we were responsible for investing £388 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in or our life assurance, pensions, investments and general insurance plans.
To qualify for gender specific premiums all of the following will need to have been completed by 20 December 2012.
- Clients' applications must be fully underwritten
- All outstanding information that has been requested must have been returned
- Confirmation that terms offered have been accepted with the premium agreed and any exclusions clearly defined
- We must have received direct debit details
- We must have received a policy start date. If this start date is after 20 December 2012, we'll take care of this. Advisers won't be able to do this on OLP Connect so must contact their usual Legal & General Service team. Changes to this start date or any policy details after 20 December 2012 may change clients' premiums as the policy will need to be re-quoted on a gender-neutral basis.
For more information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574