A new group life policy designed to pay benefits to the dependants of equity partners has been launc...
A new group life policy designed to pay benefits to the dependants of equity partners has been launched by Scottish Equitable.
The plan, called Equity Partner Group Life, permits the payment of lump sum benefits on an unapproved group life scheme to the dependants of a deceased partner. The launch has been prompted by recent tax changes on unapproved group life cover ' equity partnerships can now benefit from group terms following the removal of the second death taxation liability.
The launch completes Scottish Equitable's current range of protection for equity partners. Simon Bailey, head of marketing at Scottish Equitable, said this market could have great potential for advisers.
'The launch of the Equity Partner Group Life represents a fantastic opportunity for financial advisers to forge relationships with equity partners. It can also represent future opportunities as equity partners appreciate the benefits of group arrangements and may consider expanding benefit provision to the employees of the company. It is important that financial advisers recognise the opportunity that the recent tax changes represent for the group life market,' he said.
