This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+301014+small
Categories:Protection

Skandia looks at return to critical illness cover market

  • Print
  • Comment

Skandia is considering re-entering the critical-illness insurance market almost 18 months after pulling out of the sector.

The company, which offers a life product called Skandia Protect, says it is looking at launching a new life with cri- tical-illness bolt-on product in the next 12 months.

In July 2010, Skandia said it was pulling its CI products from September of that year.

Marketing director Nick Dixon says: “We look at what advisers and their clients want and launching a life and critical-illness product is one of the things on the radar. It is not something that is imminent or definite but it is on a list of several other things that are being given equal consideration.”

Earlier this month, Scottish Widows revealed it is planning to re-enter the IFA protection sector with a life and critical-illness plan.

Highclere Financial Services partner Alan Lakey says: “If you go back 10 years, Skandia was pretty much the market leader in critical illness so I think it has got to come back with something that is either the best in its class or unique compared with its rivals.”

Master Advisers senior partner Roy McLoughlin says: “There are not enough companies in the critical-illness sector, so healthy competition is to be encouraged.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Should Sesame unwind the 'pay to play' deals it set up as part of its restricted advice panel?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments