After short delay nib life takes off
In an email to advisers it says they will have access to "competitive, highly featured products that provide the protection solutions to meet the needs you’ve identified in your advice process."
The new products will be on the nibAPPLY platform and it will show a breakdown of the core premium, any options a client select, and the policy fees that apply for both health and life and living covers.
There is a 10% bundled discount on the health premiums if a client applies for both life and health at the same time, however it is not available to existing customers. There will be a multi-cover discount of up to 15% on the life and living premiums. These discounts are itemised in the premium illustration.
nibAPPLY includes auto adjudication functionality, providing advisers and their clients with faster underwriting decisions. This functionality will continue to be used for health applications from April 2. Ultimate Life and Living applications will all be manually underwritten initially, while the company beds down the auto adjudication rules for these covers.
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