The mutual’s guaranteed 50 plus life cover is the first product specifically aimed at the over 50s market available on the portal, and has been added following considerable demand from Webline users.
The portal provides intermediaries with access to a simple quotation and application process for the product which ensures clients are guaranteed acceptance without a medical.
Webline is part of a suite of products offered by financial solutions specialist Capita Financial Software and generates an average of 3.5 million quotes per month.
Capita Financial Software’s product director, Will Watling, said:
“We have had an overwhelming number of requests for products in this particular sector however, up until now it’s something we haven’t been able to support.
“Engage Mutual’s guaranteed 50 plus life cover plan is an innovative and popular plan and a great addition to Webline.”
The mutual has offered over 50s life cover for more than 15 years, and in that time broker and customer feedback has formed the basis for a number of innovative enhancements.
Engage Mutual has sold life cover via intermediary networks, and directly authorised advisers, for the past nine years and has built considerable expertise in this channel.
2012 saw the mutual more than double sales through this channel, compared to 2011.
Guaranteed 50 plus life cover is the only over 50s plan on the market offering the flexibility to claim an early payment of all of the sum assured on diagnosis of a terminal illness or 20 per cent on diagnosis of a serious illness. Following a terminal illness payout the policy will close and no money paid out upon death.
The mutual’s guaranteed 50 plus life cover also provides free access to a personal nurse adviser in the event of serious or terminal illness.
Karl Elliott, sales and marketing director at Engage Mutual, added:
“We are delighted to be able to offer guaranteed 50 plus life cover via the Webline portal. It is one of the largest resources of its kind in the UK and will widen the availability of the product.
“Peace-of-mind cover with a guaranteed cash lump sum and the flexibility to claim if you’re diagnosed with a serious or terminal illness, have all been key elements in the popularity and success of guaranteed 50 plus life cover.”