Industry
Lincoln Financial Group has re-launched its Financial Foundations protection package, which has been specifically designed for IFA distribution. The package, a unit-linked whole of life contract, allows intermediaries and their clients to bundle together different combinations of protection benefits. These benefits can then be added, removed, increased or decreased at any time.
The benefits include life assurance, critical illness cover, permanent disability benefits and elderly care cover. Income protection (IP), which can cover more than one life, and waiver of premium are also available. Commenting on Lincoln's offering, Jason King, managing director at Life Policies Direct, said: "The Lincoln product is certainly a flexible product and pricing and definitions seem reasonable when compared to its peers. However, as a whole of life contract it brings with it investment risk and lacks transparency on charges. There is also no ability to apply online which is a disadvantage in today's market."
The Financial Foundations protection package has been listed on the Exweb platform. Minimum regular premium starts from £20 per month or £200 per year, with the exception of premiums for standalone IP, which starts at £10 per month or £100 per year. Intermediaries wishing to obtain further information should visit Lincoln's website at www.lincoln-ifa.co.uk, or alternatively call the firm on 0845 075 3535.
