Advise Wise has announced a new enhancement to its platform, enabling advisers to input clients’ medical information using metric units for height and weight.
The sourcing platform for later life lending solutions also says that advisers can now view the client’s Body Mass Index (BMI) directly within the system as an indication of whether it will affect rates.
The new feature is designed to make it easier to enter medical details, streamlining the process and supporting advisers in their commitment to Consumer Duty by ensuring the best possible value for customers in the later life market.
Entering accurate medical details is crucial in getting individual base pricing and in identifying the best plans for clients, as even common health conditions, such as high blood pressure, can impact potential interest rates or allow for a larger release amount.
By ensuring that medical details are entered efficiently and accurately, advisers can more easily identify the most suitable plans tailored to each individual’s circumstances.
Commenting on the latest improvements Advise Wise head of product and development Benjamin Wells said: “We’ve seen first-hand how providing detailed medical information can significantly affect the financial outcome for customers.”
He added: “Interest rates can drop by over 1% for certain medical conditions, and some customers can release more than 10% extra of their property value. Our goal is to make the journey as seamless as possible, using technology to deliver the best outcomes for advisers and their clients.”
