Norwich Union has launched a new-style life insurance product designed to speed up and ease the process of taking out life cover.
Simplified Life Cover will offer most customers life cover without the need for manual underwriting and will be available through Norwich Union’s website and call centre.
The product offers level and decreasing term and uses a streamlined interactive system which can produce instant quotes and acceptance offers from information provided.
Norwich Union head of protection products Louise Colley says: “We have done significant consumer research to understand the barriers creating the chronic iundernsurance we face in the UK and help us understand why so many families are leaving themselves financially exposed.”
“Over half the UK population lack any form of protection cover. Lots of people thonk that life products are complex and confusing, and some find buying a life policy daunting.”