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LifeSearch targeting IFAs with new service

Term insurance broker LifeSearch has set up a dedicated service which it says will give IFAs access to the most competitive premium terms.

IFAs can refer regular non-regulated term insurance, life cover, critical-illness cover and permanent health insurance business to the LifeSearch service and keep half the commission earned on each sale.

LifeSearch employs three FPC3-qualified advisers in its new business to business division and is looking to take on another adviser each month until it is at least as big as its direct to consumer division, which employs 30 advisers and writes more than 300 policies a week.

IFAs can refer clients directly to LifeSearch which will then handle the business. Alternatively, advisers can deal with LifeSearch themselves to ensure they maintain their client relationship.

LifeSearch says it saves the IFA the time usually spent dealing with prov-iders, with it acting as a large administrative centre and back office for small firms with limited resources.

The service is phoneand internet-based and LifeSearch says it uses a search engine covering the whole of the market to find the best deal for the client.

Managing director Tom Baigrie says: “Rates can change daily and many intermediaries do not have the time to search for the best rate on the market and the right policy for their clients. We will scour the market and find the best deal for a client&#39s individual needs.”

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