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Critical cover combines term and whole of life

Skandia is is setting up a critical-illness cover plan which it says combines the benefits of term and whole-of-life insurance policies.

Skandia Protect has a roll ing term feature, which allows policyholders to extend their cover automatically for ano ther term at the end of the initial 10-year period without a new health examination.

Another option is a fixed term of between five years and 35 years, during which policyholders can increase their level of cover with no questions asked or medical evidence needed.

Customers can switch back and forth between the two types of plan.

A single plan can accommodate as many policies as a customer requires.

Optional extras include total permanent disability benefit, premium protection and cover reinstatement, which allows a customer to renew the policy after a claim with no further medical check for a limited number of illnesses. The product also offers access to Best Doctors, a US service which finds a specialist to deal with a client&#39s illness.

Senior marketing manager Lynda Cox says: “There are clear benefits to term insurance but we have also added the benefits of our whole-of-life heritage. The product brings completely new features to the industry and imp roves on existing ones.”

IFA Portfolio Insurance Consultancy principal Brian Lentz says: “It is a very large step beyond most other contracts on the market. It has some very special features, especially the cover reinstatement option and the serious accident benefit.”

IFA John Joseph Financial Services director John Joseph says: “I am very impressed with it. I think it has a lot of innovative features, particularly access to the Best Doc tors product.”


Invesco and Perpetual pensions to merge

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LibDem leader accuses FSA over debacles

Liberal Democrat leader Charles Kennedy has acc used the FSA of failing to act appropriately over the Axa orphan assets case and the Equitable Life debacle. In a speech to the Financial Markets Associationon Tuesday, Kennedy slammed the FSA&#39s performance in both instances and called upon the Government to force the regulator to take more […]

SLI appoints product marketing analyst

Scottish Life International is appointing Silvia Garcia-Martinez as product marketing analyst. Her role involves producing sales aids and updating existing literature. Garcia-Martinez has just completed five years at Napier University, Edinburgh, which included an MSc in languages and European marketing. SLI marketing development manager Neil Lovatt says: “We welcome Silvia to our marketing department. As […]

Bristol & West – Six Year Isa

Thursday, 25th January 2001.Type: Tessa only and mini cash Isa.Aim: Growth linked to FTSE 100, Nikkei 225 and Eurostoxx 50 indices.Minimum investment: £3,000.Maximum investment: £12,000.Catmarked: No.Investment choice: 100 per cent in cash.Yield: 100 per cent of the average growth in the three indices.Charges: None.Commission: None.Tel: 0808 1811814.

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


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