Consumer Duty: Unmarried partners and life cover claims

"Beneficiary nomination is robust and it works"

clock • 5 min read
Consumer Duty: Unmarried partners and life cover claims

Vincent O’Connor, director of products at The Right Mortgage & Protection Network, writes that with a higher level of unmarried couples than ever before in the UK, it's time for life cover to evolve to include a standard beneficiary nomination process.

We often talk about customer outcomes and how to improve them, but the ultimate outcomes for protection policies can only be evaluated when we get to that moment when someone actually needs to make a claim and we find out whether the policy did what it was supposed to do. Protection policies are a strange commodity because they are a bit like a spare wheel:  You don't actually ever want to use them, but if you need to, you'll be glad you had one. The most common protection policy taken ...

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