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Product matters

Hot on the heels of Liverpool Victoria’s launch of its straight-through processing system for its Mimi flexible protection plan comes the latest initiative.

Healthy Steps is an online heath assessment and advice service free to all new policyholders. The results are confidential and will not affect the underwriting or premiums of any policy with Liverpool Victoria. It is worthy of note, however, that the health insurance sector has already seen one provider offer discounted premiums for certain lifestyle behaviours such as gym attendance.

It is hard to tell just how effective this feature will become but it makes sense that the contemplation of protection policies in general implies consideration of one’s health. People are taking more than a passing interest in their lifestyle so this should prove more than just a marketing gimmick.

The main reason that I welcome this feature is because, like the Red Arc rehabilitation and support service available to all Bright Grey and Liverpool Victoria clients, these benefits further set out the quality protection providers from the price-driven competition.

In turn, advisers who recognise the added value that these product features bring will recommend them to their clients, proving that good advice does not mean finding the cheapest quote.

Peter Chadborn is principal at CBK

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