Multi product discounting

Our pricing strategy is a competitive one, reinforcing our position as the number one protection provider* for the past four years. Your clients can now benefit from:

• Discounting on multiple product sales which will apply for the policy duration
• Total premium discount starts from £1.50** per month, per additional product /policy submitted on OLP Connect for personal, family or business protection within the same application. **Click here to see how the discount is applied.
• A new lower minimum premium of £4 per product for multi product quotes and sales. The single product minimum premium rule will remain at £6.

To help you in up-selling and closing a sale, clients need to apply for multi products at the same time to benefit from the discount. We may amend/withdraw this offer at any time.

*Swiss Re Term and Health Reports 2006-2009, based on new individual protection sales in the previous year.

Additional features include that:

• Discounts are available when you apply on OLP Connect or via the portals for split sum assured for term and CIC
• Commission will be paid on post discounted premiums
• The discount will be spread equally across all products being applied for within a single application, regardless of whether they are single or joint life policies
• Discounts will be applied if two products are bought for one life or if two lives purchase one product each within the application
• Discounts will be applied to products with guaranteed, reviewable and indexed premiums
• Rated cases will be eligible for a discount
• The discount amount is based on the number of products being purchased.  If your clients only apply for a joint life policy - one product - they will not be eligible for a discount
• The annual premium discount is calculated as 11.52 x monthly discount amount
• If your clients add a product to an application before any other product/s complete, they will qualify for the discount and the premiums will be recalculated
• If you or your client need to deselect a product before any other product/s complete, the discount will be removed and the premiums will be recalculated
• We won’t penalise your clients if we decline a product where the original intent was to buy multiple products.  The portion of the discount will still apply to any products that remain
• The discount amount will be displayed on ‘Quote Results’ and ‘Underwriting Outcomes’ screens on OLP Connect.  The ‘KFI’ will also show the discount premium.