Openwork has unveiled an impaired life cover solution from the Exeter to its protection panel.
The arrangement means the network’s advisers can now offer life insurance to clients whose medical history might otherwise have prevented them from being able to obtain cover.
‘Managed Life’ was originally designed for those with Type 2 Diabetes and people with a high BMI. The Exeter has recently extended cover to include impaired lives, for applicants with multiple or severe health conditions, or who have been declined elsewhere. It is this impaired life element which is now available to Openwork advisers and their clients.
The plan provides level or decreasing cover on a single life basis and premiums are guaranteed for the life of the policy.
Paul Shearman, proposition director (mortgages, protection and GI) at Openwork, said: “Finding protection solutions for clients with multiple or severe medical conditions can be difficult as the market for this impaired life cover is limited. It is for this reason that we are pleased to announce our partnership with The Exeter.
“We recognise that some clients face more challenging circumstances and are committed to giving our advisers the tools they need to support the full spectrum of client requirements.”
Steve Bryan, director of distribution and marketing at the Exeter, added: “We’re delighted that Openwork has chosen to extend its protection panel to include Managed Life for impaired lives. For client’s with complex medical histories, quality life cover can be difficult to obtain and we’re determined to change that. This product helps advisers find the right solution for their clients without having to compromise on the cover they can offer.”