The Buy & Replace Insurance strategy in AdviserLogic’s Digital Advice module guides you through reviewing a client’s existing insurance policies (such as Life, Total and Permanent Disability (TPD), Trauma, or Income Protection) and recommending a suitable replacement policy where appropriate. This Advice Flow strategy uses mapped data and research tools to support compliant, data-driven recommendations and helps you demonstrate why the new policy better meets your client’s needs.

Please follow the step-by-step instructions below to prepare advice for the Buy and Replace Insurance strategy.

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From the Digital Advice - Scenarios Screen, select the Add Scenario icon.
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Select the Client the advice is for, or select Joint to create advice for your client and partner. Select the type of advice ( SoA or RoA), then Proceed To Scope.

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Select the Buy and Replace Insurance strategy from the Strategy screen, then select Proceed. Link the client's Goals or skip this step.
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The Needs Analysis functionality is identical to Advice Tools. This screen is specific to the selected client and will be automatically populated with the existing Fact Find data.
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To provide insurance advice for both clients, choose one and follow the steps until you reach the Recommendation screen. Then, you can select the other partner and repeat the process if they too require insurance advice.
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It is important to complete this advice in the correct order, as failing to do so may prevent the completion of the Scenario and could result in data loss for the partner's advice.
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You can add additional expenses or liabilities by selecting the Needs Analysis + button or clicking into one of the existing fields and selecting the Plus + button, then entering the additional expenses from the drop-down options.
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You can also select previously saved needs Analysis from the drop-down.
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You can also reset default values by selecting the Reset button, additionally, you can customise and Set Defaults from the Options button to provide a more tailored tool for your advice.
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Download the Needs Analysis from the Download Report button from the bottom right of the window, or select Proceed to Buy and Replace Insurance.
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The Buy and Replace Insurance functionality is identical to Advice Tools.
Enter the requisite details in the left panel or choose a previously saved Quote.
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Some of this information will be pulled through from Fact Find, however, other information needs to be entered manually.
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Once the client data has been correctly entered:
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​Updating quote details for your client will populate the selection of the policies to compare on the right panel, which you may select by ticking the associated checkbox.
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​Saving Quote details will allow you to avoid further data entry next time you need to research insurance quotes, by selecting the saved details from the View Saved Quotes details list.
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Select the Compare Products button (bottom right of the screen) to go to the comparison screen.
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The left panel data must be entered correctly to populate the right quotes panel with the correct Insurance quotes.
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If the data you are using is incorrect or the dataset you have chosen is unable to generate any compatible insurance fund, an error message will be displayed next to the provider. This message will explain why the dataset failed so you can correct it by editing the client data in the left panel.
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To edit a section, hover over it and select the pencil icon from the bottom right of the box, then select the requirements from the drop-down.
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It is important to ensure the Existing Insurance has been mapped to have a base provider to compare against, as the existing insurance doesn't populate automatically.
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To do this hover over the Existing Insurance box at the bottom of the left panel and select the pencil icon.
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Enter the Provider name and select the relevant policy from the populated list, you can refine the search by selecting the relevant date. Once you have added the existing policy, select Next.
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Select the correct Cover options from those listed and Save.
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A confirmation will be generated. Search for a new policy if required, otherwise, the window can be closed and the Existing Policy box will now show a number of policies reflecting however many have been entered.
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Once all details in the Left Panel have been entered correctly, select the Update Quotes button from the bottom of the panel. This will populate the right panel with relevant policies to be selected for comparison based on the identified needs.
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Download the Insurance report or proceed to View/Compare Features by selecting the button from the bottom right of the window.
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The Policies you selected can be compared in a side-by-side graph, displaying the fees and features.
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The Existing Policies previously mapped will show in the final column.
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The fields to be compared can be controlled by selecting the Filter from the top left panel.
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Hovering over the Policy column will show the Select to Recommend option, click on the fund to recommend.
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Once the Funds to Recommend have been chosen, Download the Comparison Report to add to your advice documentation or select Proceed to Recommend from the bottom right of the window.
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On the Recommend page, review the applied values. Any edits can be applied by selecting the Edit button from the top left of the window.
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Selecting Edit will open an editing window where you can enter the correct values.
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Select Save from the bottom right of the edit window to save the edits.
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Apply new or previously saved justifications by selecting the Add Reason button from the bottom right of the window.
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Select Save and Proceed to continue to the Recommended page.
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The Recommended section will show the existing recommendation for the initially selected client. The other client will show no recommendation tile.
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This section is where you can select insurance recommendations for clients not previously selected. If you do not need to complete Insurance advice for the partner you may Proceed to Disclosure Fees by selecting this button from the options in the bottom right of the Recommend window.
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Additional Options are:

Choose this option to add additional Insurance strategies for the selected client.
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Choose from:

Select the Partner Needs button located at the bottom-right corner of the window.
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Choose the Insurance strategy for the Partner from the available options, and Submit.
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You will return to the Needs Analysis stage of the advice, repeat the process, or follow the instructions for the selected strategy to complete the partners' advice.
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Once complete the Partner recommendation will show and you may Proceed to Disclosure Fees by selecting this option from the bottom right of the window.
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You may edit the advice document from within the scenario by selecting the Preview button from the top right of any screen within a digital advice Insurance scenario and following the Advice Editing Instructions.
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After editing the text to your liking, select the Proceed to Disclosure Fees button located at the bottom right of the screen. From there, you can add your fees and complete your advice.
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After completing the advice, you may add any previously created cashflow modelling to the scenario by selecting the Link Cashflow option from the Scenario Tile. The cashflow tables will be drawn into the final advice document.
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