Scottish Equitable Protect has added a conversion option to its life protection with tax relief poli...
Scottish Equitable Protect has added a conversion option to its life protection with tax relief policy (LPTR), which allows policyholders to switch their current LPTR policies to a term assurance policy. The option, which took effect at the end of June, can be applied retrospectively to 6 April 2006. Customers can replace their LPTR policy with a standard term assurance policy if they become ineligible for LPTR or if they are at risk of exceeding the lifetime allowance on their death. The option can only be used once.
