Royal & SunAlliance is launching a support package for IFAs looking to sell insurance to the managem...
Royal & SunAlliance is launching a support package for IFAs looking to sell insurance to the management buy-out market
The group said that funding for a management buy-out may often only be provided where sufficient life assurance and income protection are in place. This therefore presents a business opportunity for IFAs
Management buy-outs are on the increase, with funding for larger buy-outs in the UK doubling over the past three years from £6.5bn to £13bn
The support package includes Progressive Protection term assurance which can provide any cover required, while on-the-spot support is available from underwriters who can accompany IFAs on client visits
A dedicated case handler who will see the application through from start to finish is also available. A free phone underwriting helpline to help IFAs with queries is also available. The group said that a streamlined financial underwriting process means that IFAs can offer clients temporary cover immediately
With management buy-out negotiations frequently confidential until the deal is finalised, IFAs can often only become involved if they can arrange the required cover at particularly short notice
Ronnie Martin, market manager, life and health at Royal & SunAlliance, said: "We have been working with IFAs in this market for many years and this has told us that IFAs look for three vital ingredients: underwriting expertise; cost-effective cover; and a speedy service
"Improvements we have made to our medical and financial underwriting limits, products and service, combined with the knowledge we have built up of IFA needs have enabled us to launch the most specialised IFA support package in the market
For more information contact: 0345 112411
