Apart from obvious things, like the nature of your client’s business and what benefits are required, make sure you know the following:
For all schemes, the following data for each member is needed:
- Dates of birth
- Postcode location
Having provided salaries and the benefit basis, our system will work out each member’s benefit. The only exception is if you are getting a quote for death in service pensions based on members’ prospective retirement pensions. In this case, there is no way our system can calculate the benefit, so you will need to know the actual amount required for each member. We will need to know the number of employees who travel abroad for work purposes, specifically to these countries.
For schemes that already exist, you will need to know:
- How many claims have there been and what benefits paid out over the last five years?
- Have any members’ benefits been declined, postponed or restricted to the automatic acceptance limit?
For group life schemes:
We need to know if there are any members who are absent due to illness or injury and have been
- in schemes with up to 50 members, for one week or longer.
- in schemes with between 51 and 500 members, for four weeks or longer.
- in schemes with 501 or more members, for twelve weeks or longer.
We will want to know the reason for their absence, and the date their absence started and how much cover they have. We also need the same information about any members who have retired early but are still entitled to cover.