Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Please click here to view table one which compares child critical illness cover - CIExpert Children's CI Death Benefit Table November 2017 - Updated Child cover within critical illness plans has assumed a far greater importance in recent years. Whilst the industry average for child claims is around 3% this understates the reality. A scrutiny of paid child claims by AIG shows that over 10% of its claims relate to children. As a result there has been an increased emphasis on child cover...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.