This is a particular problem for IFAs specialising in equity release and home reversion where many firms don't offer the same online facilities as traditional brokers.
KRS has been contacting all major providers for reassurance that they will provide the illustrations in time. The feedback has ranged from assurances that an online service will be in place to postal guarantees, provided the information is entered in time.
KRS has revamped its website to make it easier for intermediaries to introduce business online. The site's IFA zone has also been made faster and more streamlined for those entering customers' details.
Dean Mirfin, business development director at KRS says: “The site now makes it clear that IFAs do not need to turn lifetime reversion business away.”