The adviser vote was particularly high for the provider’s impressive PHI income protection product which sets it apart from competitors in the healthcare field.
Friends Provident has invested heavily in its protection technology and systems and is known among advisers as having a very efficient and communicative underwriting philosophy.
It had a commanding lead in Life Policies Direct 2005 life insurance and critical illness cover underwriting tables which judged average times to issue application acceptance cementing its industry reputation for topnotch service standards.
The provider was also at the forefront of industry attempts to drive up standards this year with a pledge that if its online system does not make a decision automatically, it will turn round underwriting decisions in less than 48 hours, assuming no further medical evidence is required.
On top of a well-oiled online presence Friends Provident has impressed advisers with its range of products available and flexibility of its offering.
Friends Provident reviewed its guaranteed critical illness rates in 2005 in response to market competition and has been pro-active in anticipating new market trends.
Friends Provident takes the crown in this increasingly competitive and rapidly evolving market with advisers impressed with its heavy investment in online systems, which in turn makes their lives easier, as well as the range and coverage of its individual products.
Winner – Friends Provident
2nd – Norwich Union
3rd – Standard Life Healthcare
Sponsored by employee benefits