View more on these topics

&#39The protection gap is 10 times bigger than savings shortfall&#39

Scottish Equitable Employee Benefits is spending £50,000 on a campaign aimed at explaining and simplifying the group risk market to IFAs.

The campaign highlights what SEEB calls the protection gap, which it says is the £270bn shortfall in long-term health and life cover.

It says this gap is 10 times wider than the widely publicised savings gap highlighted by the ABI and the Sandler review.

SEEB is producing a CD-Rom, which helps IFAs identify an employer&#39s shortfall in employee protection benefits.

The CD-Rom, which is available free from ScotEq branches, takes IFAs through the group risk market and presents SEEB&#39s own solution package, the employee protection menu.

The menu is aimed at employers with 50-500 staff and offers a fixed rate for combinations of income protection, critical illness, life cover and spouse and partner life cover.

Marketing communications manager Alison Ritchie says: “Government action is focused on pensions and investments but this ignores the greatest issue of protection.

“If we do not protect income, then things such as pensions, savings, retirement costs, and loan cannot be financed. Income should be seen as the starting point.

“The protection gap is estimated to be £270bn – 10 times as big as the savings gap. There is a clear need to expand the market, making products available to a wider audience through product simplicity, flexibility and through providing value for money. This market is substantial and largely untapped by IFAs.”

Recommended

Only three UK sectors positive in July says Lipper

Only three of the 31 Ima UK unit trust and Oeic sectors produced positive returns in July according to the latest Lipper monthly fund market report.None of the equity sectors produced a positive return in the month, the three that were the Index Bear funds at 3.1 per cent, UK Gilts 0.23 per cent and […]

Investec Asset Management – American Fund

Friday, August 23, 2002Type: OeicAim: Growth by investing in American companiesMinimum investment: Lump sum £1,000, monthly £100Investment split: 100% in American companiesIsa link: YesPep transfers: YesCharges: Initial 4.5%, annual 1.5%Commission: Initial 3%, renewal 0.5%Tel: 020 7597 1900

Outside edge: Garry Heath

Is the financial services industry being pushed into the Government&#39s own fantasy world in which analysis, fact and intellectual rigour have been replaced by spin, urban myth and self serving argument?I think so and Mr Sandler has done little to reverse it. The first thing to say about Mr Sandler&#39s report is that it is […]

Scottish Mutual boosts choice for bond investors

Scottish Mutual has set up a multi-manager portfolio service for investors in its flexible investment bond.The service, investment intelligence, provides investors with access to three pre-packaged funds from Scottish Mutual’s sister company, Inscape. These funds — cautious, steady and higher growth — mix and match six underlying multi-manager Inscape funds to create the most appropriate […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com