"Adding ASU to the adviser’s toolkit means they also have a further touch point for their existing client relationships, many of whom may not have the cover they need, should the worst happen."
- Nigel Preston, Jt Managing Director at Wessex Group
This partnership offers advisers flexibility on Accident, Sickness & Unemployment (ASU), Accident & Sickness (AS), or standalone Unemployment (U) policies, optional wait & excess periods, access to Wessex Group’s new Homeowners Income Protection (HIP) plan to ensure customers are receiving the best terms and prices on the market, a maximum 12-month period where the benefit is payable, and carer cover.
Granting its members access to Wessex’s HIP policies aligns with the network’s goal of ensuring customers and their loved ones have optimum protection in place. Both Stonebridge and Wessex Group will run a series of introductory webinars to educate advisers on the product and to outline appropriate customer scenarios.
“We’re very pleased to be adding this new ASU product from Wessex Group to our array of protection products and to be working closely with both Wessex and the Qualis protection team to provide our members and their customers with this excellent product,” said Rob Clifford, CEO of Stonebridge. He highlighted that advisers haven’t had an “array of ASU choices in recent years, and it’s therefore important we provide our AR firms with access to a product that’s increasingly in demand.”
According to the latest data from AmTrust, demand for ASU products increased by 25% between January and December last year - this trend has continued into 2024. “With the U-only option available, we can cater for what we anticipate will be increased demand for these product options,” Rob explained.
Nigel Preston, Jt Managing Director at Wessex Group, said he’s pleased to be launching this new ASU product with a network “committed to providing their AR firms and advisers with as many protection product options and opportunities as possible.”
“Recently, advisers have had slim pickings to choose from in terms of ASU products, and this has often meant advice has focused on Life Insurance and Critical Illness (CI) alone,” he explained. While these policies are valuable, Life and CI “don’t address the short-term income impacts of an accident, sickness, or unemployment event.”
“Adding ASU to the adviser’s toolkit means they also have a further touch point for their existing client relationships, many of whom may not have the cover they need, should the worst happen,” Nigel concluded.
