Liverpool Victoria is planning to launch into the protection market as part of its bid to build an I...
Liverpool Victoria is planning to launch into the protection market as part of its bid to build an IFA brand, writes Leo Bland.
The group is to initially offer critical illness and term assurance products which are likely to be followed by an income protection contract.
Rye Mills, group director of IFA sales at Liverpool Victoria, said that the protection market will be an area where brokers will be increasingly looking to focus, with the advent of stakeholder reducing the margins for IFAs in the pensions arena.
Liverpool Victoria's launch into the protection market is planned for early next year.
The friendly society is also planning to launch a series of products including a with-profits annuity during 2000. It is initially looking to use its strength in with-profits as its launch pad into the broker market.
The with-profits annuity product is due to be launched in April and the group is also planning a trustee investment bond for the autumn which will be a with profits bond investment aimed at SSAS and Sipp clients.
Liverpool Victoria's first product launch for the IFA market was a single premium with-profits bond that was unveiled last month.
Mills said: "Our launch into the IFA arena is based on bringing products that will provide IFAs and their customers with real value. The with-profits investment bond has been developed in close association with IFAs across the country and the response to date has been extremely positive."
