Individual Protection

Tips from Bright Grey

Providers need to be mindful of getting stuck in a middle ground when trying to cater for a wide mass market on price-competitive critical illness, Skandia has warned.

Legal & General has stressed the importance of income protection following Shelter reports of increasing numbers of people receiving housing, debt and benefits advice.

Ageas Protect has added life of another cover to its term assurance products.

Skandia has re-entered the critical illness market with a 56-condition product aimed at high net worth clients.

Like it or not, when assessing the hours of work per case in relation to the remuneration, protection business is often less profitable than other lines of advice.

Adviser firm Positive Solutions has linked up with LifeQuote in an aim to support advisers post-RDR.

Compensation and refunds related to mis-sold payment protection insurance (PPI) have reached £9.3bn, the Financial Conduct Authority (FCA) has said.

Having read recent calls from the protection insurance market in the media about the formation of a specialist protection insurance group, Protect and its members are willing to support such an entity.

A quarter of protection advisers at a recent industry body training session said they were keen to ditch multi-application approaches in favour of more efficient pre-underwriting processes.