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Bureau moving into income protection

The Special Risks Bureau is extending its business to include income protection and impaired annuities from June and September respectively.

SRB, known for sourcing complex life and health policies since October 2003, will establish an income protection panel and a generic application form. These will be accessible to its 350 IFA member practices and a number of networks.

SRB expects most future enquiries to be occupationally rather than medically involved.

It says as the critical-illness market becomes more problematic, due partly to medical advances and greater regulatory pressures, so income protection will increase in popularity.

Executive chairman Garry Heath says income protection is the way forward in the long term and more providers are keen to promote it.

SRB will conduct research into the annuities market and look at prospective partners over the summer. Heath says although there are few players in the market, there is a lot of interest.

He says: “Income protection is a complex beast. It is a very good product that requires serious care, thought and training.”

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