Impaired life products are designed for clients with medical conditions that may reduce their life expectancy. With the UK’s ageing population, the equity release provider thinks a growing number of consumers will qualify for them in the future.
The service is free to brokers and is designed to reduce the time from application to quotation from the typical 28 days to 24 hours.
Jon King, managing director of Hodge, says: “This facility provides an opportunity for brokers to enhance benefits for clients who are in less than perfect health faster than ever before.”
Stuart Wilson, managing partner of Equity Release Club, says: “Many protection firms have moved in this direction in recent years and it’s good to see equity release companies do the same.”