British insurance giant Aviva has launched an online trust solution for advisers writing business protection and relevant life policies for clients.
The process of setting up the trust, according to Aviva, is completely signature-free and it does not cause any delay that can put the policy on risk, and it is also easy for the adviser’s clients.
“This development is great news for advisers and we are keen to highlight the speed and ease with which advisers can now write their business protection policies into trust,” said Mark Cracknell, head of protection distribution at Aviva, in a statement.
“We know it can be difficult for advisers to persuade their clients of the benefits of writing their protection policies into trust in the first place, let alone completing a paper process, which can take time.”
Writing life protection plans into trusts can help overcome some of the financial issues that can arise at death of the insureds. It can also ensure that the claims amount is offered to the right beneficiary in a straightforward way, the company added.
The initiative is the latest improvement to Aviva’s integrated product suite for the adviser market and comes after the launch of Aviva’s Whole of Life Insurance+, earlier this year.