View more on these topics

Advisers must consider effect pension changes have on income protection, says Unum

Unum is calling on all advisers to inform their clients about the effect last month’s pension changes will have on their income protection policies.

Since the Pensions Act 2008 received Royal Assent last month the protection provider says now is the time for advisers to explain the implications of the change and question whether or not they have income protection in place, taking in to account the age of the client.

Changes include increasing the state pension age, potentially extending the working lives of any worker now aged 48 or under, and gradually increasing the state pension age to 66 between 2024 and 2026, to 67 between 2034 and 2036, and to 68 for those retiring after April 2044. All of which could effect retirement planning, says Unum.

Unum head of retail marketing Linton Penman says: ”Although there is now a real need for most people to work for longer, statistics show that this may be compromised by the increased risk of serious illness that comes with getting older. This not only strengthens the general case for income protection, but also makes it increasingly important for advisers to recommend providers that are able to provide cover to older ages.

“Unum was one of the first providers to offer income protection to age 70, and I would call on other providers to follow suit if they haven’t already.”


FTSE slips below 4,000

The FTSE 100 has slipped below the 4,000 level after opening 46 points lower at 4,019.18 on Monday’s close of 4,065.49.

Spread the risk

For many investors, the recent volatility in the markets has been a wake-up call. We all know that equity markets can fall as well as rise but the extended bull market that we have seen in equities since 2001-02 has lulled many investors into a false sense of security.

Spread the news

The latest Investment Management Association figures show the UK all companies sector taking the biggest share of an ever decreasing pot in terms of gross retail unit trust sales. I am surprised that corporate bonds are not the number one choice. Why? Because interest rates are likely to be around 1 per cent by February, with all that implies for cash returns.

India: are further rate cuts on the horizon?

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, discusses the key drivers of the Indian market’s outperformance and why he expects another rate cut, which will likely further support equities.  Read more here Important Information Investment risks The Neptune India Fund may have a high volatility rating […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment