The firm says its new website, www.getliferight.co.uk, offers consumers a quick and easy route to cover which takes less than two minutes to complete.
The new service allows consumers access to life cover, critical illness, family income benefit and income protection from a panel of four insurers- Axa, Friends Provident, Legal & General and Royal Liver.
If an individual decides to apply online they will be automatically covered for up to 72 hours- provided the cause of any claim is an accident and not health related. A Lifesearch tele-interviewer will contact the client for full personal details before the plan goes live.
Lifesearch stresses that the website is not looking to replace the traditional advice route but instead is an innovative attempt to reach those people who either cannot or do not want to speak to an adviser directly.
For example, it says some individuals may feel uncomfortable giving large amounts of personal details to a stranger. The firm says these people have previously not had their protection needs met online.
A great deal of debate in the protection market in recent times has focused on how to close the protection gap and come up with innovative solutions to meet the needs of people currently out of the reach of advisers.
Is Lifesearch’s new website the answer? Will it help to close the protection gap and benefit consumers without adequate protection? Is it a threat to current models of protection advice?
Let me know your thoughts.