AEGON Scottish Equitable has made significant changes to its online service for processing electronic Life, Critical Illness and Income Protection applications.

Advisers can now get cover in place for their clients instantly when they submit applications online, whether on standard or non-standard terms. A policy start date can be given up to 30 days after submission.

Following extensive consultation with its distribution customers, AEGON Scottish Equitable has also extended the time period to return a signed protection declaration from 30 days to 60 days. All new cases will have this time limit applied as well as any cases submitted since 30 April 2007.

Additionally, AEGON will be including the Access to Medical Reports Consent Form (AMRA) within the Data Capture form and also making it available for advisers to download from it’s extranet. This will let advisers print the AMRA on its own rather than as part of a larger document, helping put the adviser in control of the application process.

Rod McKie, Head of Individual Protection Marketing at AEGON said: “We have made these changes to make the whole process of applying for protection quicker and smoother for both our IFA customers and their clients. A policy can now go on-risk immediately – subject to acceptance of course – from the requested start date”.

AEGON will still need the clients’ signature to confirm they have checked their declaration and to avoid any issues of non-disclosure, which will protect the adviser and the client. To help speed up this process, AEGON will be highlighting to the client exactly what it needs and the timeframe for returning the signed declaration.

McKie said:

“By getting the client to sign the declaration and send it back to us, we’re protecting the client, the adviser and ourselves. By taking this action, we hope to significantly improve process times and assist our IFA customers in placing more protection business.”

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Scottish Equitable is part of AEGON UK, which has assets under administration in excess of £45.2 billion. AEGON UK is part of the AEGON Group, which is one of the world’s largest listed insurers with assets in excess of £245 billion.

For further information:

Mark Locke
T. 0131 549 3766 | M. 07740 897 541
mark.locke@aegon.co.uk