How to Manage Protection Policies with Multiple Benefits in Smartr365
Overview
Smartr365 supports multi-benefit protection policies, allowing you to add multiple benefit types (such as Life Insurance, Critical Illness, and Income Protection) to a single policy. This mirrors how many protection providers structure their plans.
Getting Started
Where to find it: Open a protection case, then navigate to Protection > Protection Policies from the left-hand menu.
Who can access it: Any adviser with access to the case.
Step-by-Step Guide
Adding a New Protection Policy
Navigate to Protection > Protection Policies.
Click Add to create a new protection policy.
Complete the policy details: select the insurer, set the status, and fill in policy reference, application date, and other fields.
To add a benefit, click Add Benefit.
Select the Benefit Type from the dropdown (options include Level Term Assurance, Decreasing Term Assurance, Critical Illness Cover, Business Protection, Family Income Benefit, Whole of Life, Income Protection, ASU, and Private Medical Insurance).
If it is a joint case, select which Applicants the benefit applies to.
Click Add to add the benefit to the policy.
Fill in the benefit-specific details (sum assured, term, premium, etc.).
Click Save to save the policy with all its benefits.
Recording Existing Cover
Navigate to Protection > Existing Cover.
Click Add to record an existing protection policy the client already holds.
Complete the policy details as above.
Tips & Best Practices
Income Protection benefits can only be assigned to one applicant at a time (not joint).
You can add multiple benefits to the same policy to accurately reflect multi-benefit plans from providers.
Use the Source button on the policy list to go directly to Solution Builder for that case.
The policy status workflow progresses from New Lead through to Completed. Some fields become read-only once a policy reaches certain statuses.
Frequently Asked Questions
Q: What is the difference between "Protection Policies" and "Existing Cover"?
A: Protection Policies are new cases you are arranging for the client. Existing Cover records policies the client already has in place, which helps with the overall protection review.
Q: I see deprecated policy types like "Life Insurance (DEPRECATED)". What should I use instead?
A: Deprecated policy types are from the old single-benefit system. For new policies, use the multi-benefit approach by adding a policy and then adding individual benefits to it.
Need More Help?
If you need further assistance, contact our support team through the chat widget or email support@smartr365.com.