MSV Life plc has launched its Fast Track Life Protection Plans, providing immediate life protection for young, healthy lives.

This new product is available as a Loan Protection Plan (decreasing sum insured) or as a Protection Plan (level sum insured).

Fast Track Life Protection Plans give clients immediate life cover if they meet certain criteria mainly related to age and health. Clients have to be aged between 18 and 40 (single life and joint life basis) and requesting a maximum sum insured of €150,000. The new plans apply to persons who are in good health, and have been so for the past five years; not taking any medication or undergoing any medical treatment and have not done so for the past five years. Also, applicants should have not tested positive for HIV, Hepatitis B or C and are not waiting for the results of such test.

Another requisite for eligibility is that persons are not engaged in a dangerous occupation and do not participate in any hazardous activities; and should have never had any previous life insurance applications declined, postponed or accepted at special terms or increased premiums.

Stuart Fairbairn, chief officer, business development at MSV Life said: “The MSV Fast Track Life Protection Plans have been launched to provide a straight forward and efficient service to customers. Clients meeting the set criteria do not have to answer any further medical questions when applying for life cover. They will not have to attend medical examinations and will have their policy issued and cover confirmed immediately”.

Mr Fairbairn added that “these plans will definitely help to improve our customers experience by speeding the purchase process and consequently satisfy customer needs more effectively”.