The rates that are accepted initially are annually renewable and so the Reviews team will pick up a scheme a few months prior to its review date to carry out the annual review. The Reviews team will run quotes with up to four of our insurers (depending on the benefit structure) before sending out a letter to the broker.

The letter points out the proposed changes, if any, to the existing insurer’s structure, rates and/or proof free limits as well as the alternatives offered by the other insurers. The responsible Reviews team member also includes a summary of potential/accepted covers and new premiums due, a list of members with outstanding medical requirements and highlights any members reaching the Normal Retirement Age in the coming year.

This ensures that schemes continue to receive value for money benefits and it assists the broker in fulfilling their role and obligation to the client.

An easy reference, printable list of the team contacts can be found here.

Thank you and regards,
The TSA Team

You’ll find all back issues of TSA Connect by visiting our blog.

All information provided is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.

(Vol. 6 Issue 27)