When the HMRC consultation was launched on 10/08/16 with a closing date of 19/10/16, good and bad things emerged as a result of the industry's focus on this area of work, writes Paul Avis.
336 responses were made to the consultation and the outcome was that Excepted Group Life and Group Income Protection (GIP) were to be treated as P11d benefits in kind, and confirmation that Partners' Life Assurance and Group Critical Illness were maintained as P11d benefits. Could we have done better, specifically on GIP, and what does this tell us about the group risk industry? I have no idea what initial evidence gathering was undertaken by HMRC (it seemed to be employer and not industry-focused). ...
LV= has signed up to Synaptic's Multi-Benefit quoting service, enabling advisers to compare its multi-benefit and single benefit products and share the most suitable protection product with its clients.
Shepherds Friendly paid 97% of income protection claims during 2016.
The Association of Medical Insurers and Intermediaries (AMII)'s petition to scrap Insurance Premium Tax (IPT) on health insurance has been postponed due to the forthcoming 'snap' General Election.
Aetna International has launched a redesigned secure member portal, Health Hub, which offers members a one-stop-shop to manage different aspects of their health online.