Guidance for policy numbers not starting with PR
Guidance to help you support your clients for policy numbers not starting with PR. These policies are sold under our legacy propositions.
Follow these quick links to find out more:
What changes can you make to products to reduce premiums?
The options available within each of our legacy products will differ, some may permit a reduction in the sum assured which could help to make cover more affordable. Please refer to the T&Cs of any individual covers if you wish to explore the flexibility options available.
Contractual changes can be applied when a policy is in arrears however all missed premiums must be paid before the lapse cycle ends.
How do Zurich regularly communicate with your client’s and remind them of the features and benefits of their cover?
We believe in enabling our customers – both end clients and the intermediaries who advise them – to regularly take stock of the policies they have taken out with us. Every year, we send benefit statements to our customers and their advisers, which can trigger myriad benefits for all parties.
Here’s a reminder of how they can help conversations with your customers:
- It serves as a regular reminder of the cover that the client has, Is it still fit for purpose? Some policies can flex with people’s changing circumstances. This increases the potential benefits of undertaking regular reviews.
- An annual statement can open the door for you to initiate a conversation that could start with their existing policy and evolve into other areas.
How and when do Zurich notify advisers and customers if a premium is missed on a policy?
If a premium is missed, around the 16th of the month following the missed premium, a letter is sent to the customer to let them know the plan has missed a premium collection. A further three letters are issued to the customer during the underpaid cycle reminding them that premiums are outstanding. Once the first premium is missed, the plan is placed on an underpaid report which is then emailed out to advisers, providing we have an up to date email address, to confirm details of any plans that are outstanding premiums.
To reinstate a direct debit and pay any missed premiums, the request must be received from the customer directly.
If your client wishes to reinstate their direct debit, they can call Life Servicing on 0370 241 6945. We’re open 8.30am to 5.30pm, Monday to Friday (except bank holidays) and Saturday 9.30am to 12.30pm.
What tools are available to help advisers manage their existing client banks and improve retention?
Once a month we issue an underpaid report to the servicing adviser via email, providing we have an up to date email address, outlining customer details such as name and address, the policy number and the number of premiums that have been missed.
