Old Mutual Wealth's (OMW) protection business has increased its financial limits and produced a new shorter questionnaire to speed up its underwriting process for advisers.
As part of the update, OMW has improved clarity on what high net worth clients require for underwriting in order to help advisers better manage their clients' expectations ahead of an application. The provider has also reduced the additional rating for Type 2 diabetics on its guaranteed whole of life product, making the product cheaper for those customers. It pointed out more than three million people in the UK have diabetes and 90% of those have Type 2, according to Diabetes UK. OMW head of...
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.