FAST RESPONSE CORPORATE LIFE PROTECTION

Strategic Broking arranges short term Corporate Life Protection for CEO

Time is money and for a business it can be frustrating waiting for Life insurers to finalise underwriting proposals. Doctors' reports, medical exams and long proposal forms can all leave key employees uninsured while awaiting insurer's approval. This can mean potential financial exposure for the business should the worst happen.

To tackle this issue, Strategic Broking offers a fast response, short-term solution.

Recently a global media company came to us for help with providing Life cover for a senior director who was not eligible for its group life policy. Due to his location and travelling it was going to take a while to arrange the cover, so in the meantime Strategic Broking arranged a short-term Corporate Life Protection policy at Lloyd's.

The policy covered the company's contractual financial exposure in the event of the death of the key director with limited exclusions for a period of 60 days. The only underwriting information required was a proposal form signed by his company without the need for him to complete any forms or undertake any medical examinations. The policy was set up within a couple of days of the enquiry being received.

  Strategic Facts

• Strategic Broking has a Lloyd's facility to write Corporate Life Protection, providing cover for death by any cause.
• Cover available for specific key individuals.
• Policies can be arranged for short periods usually 30 / 60 / 90 days or longer if required, until the life underwriting process has been completed.
• Limited underwriting information is required. Usually just a short proposal form, with a declaration the insured person is in good health and free from any physical defect or infirmity, and justification of the sum to be insured.
• Cover available on a worldwide, 24 hour basis. Lloyd's is currently licensed to write business in over 200 territories.