Cofunds is looking at launching protection products onto the platform in a move which could see the creation of an investment-linked protection range.
The company says it is considering a number of options to add protection on the platform, which could include investment-linked protection or a wider range of protection products.
A spokeswoman says: “We are looking at a number of new services such as protection as we can see this as an extension to the traditional platform, but have no firm plans as yet.”
Asked if any product would be tied to parent company Legal and General, Cofunds says it not possible to say at this stage.
Nucleus and Zurich have already launched investment-linked protection on their platforms. Nucleus’ term assurance policy pays out on death based on the difference between portfolio value and a client’s target value while Zurich pays out on death based on the difference between original investment amount and the current portfolio value.
Skandia re-entered the critical illness market in August after pulling out of the sector in July 2010.
Sovereign IFA director Mark Hibbitt says: “At the pricing levels we are seeing of around 10 basis points I can see some value in an investment-linked protection product for those that want some protection for a spouse on death.”