Individual Protection

Specialist Lloyd's insurer Jubilee has announced a strategic move to grow its specialty term life business across both underwriting and distribution.

Nearly all those with HIV are unaware of the availability of life cover for people in their situation.

Short term income protection products are set to be the big seller over the next ten years, according to the protection industry.

The Income Protection Task Force has completed a draft Charter setting out the obligations and opportunities of companies selling Income Protection.

Friends Life has increased the commission advisers receive on its income protection policies by approximately 15% in a bid to bring it into line with commission received on critical illness and life products.

Although efficient claims management remains a key driver for customer satisfaction, less than one-fifth of insurers are investing in technologies to improve their customer interaction.

A charter for income protection (IP) setting out the obligations and opportunities of companies selling Income Protection was one of the key things considered a recent IP Summit in London.

Barclays is encouraging customers to review their protection needs and offering three months cash back to customers who buy a life insurance policy between 21 April and 1 June 2012.

Research from Scottish Widows shows fewer people buying protection even though they know savings are insufficient to cope in event of lost income.

KEVIN CARR