Protection provider AEGON is tomorrow increasing the multi-benefit discounts available when a customer takes out two or more benefits on the same plan.

This consolidation means that customers are likely to save money, as well as make the application and underwriting process quicker and easier for both advisers and customers, AEGON claims.

The customer discount increases in line with the number of benefits they take out under the one plan. The new discounts range from £2.40 a month for two benefits, to £9.60 a month for five benefits.

AEGON says the benefits to the customer and adviser include less paperwork, as there will only be one application form, one illustration, one policy number and one underwriting process.

Stephen Crosbie, head of proposition – protection and investments at AEGON, said: “Protection is not just about life insurance. It’s important that people protect their families and businesses with the right mix of income protection and critical illness cover as well. These discounts enable advisers to make a full range of protection cover more affordable for their clients.”””