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Critical questions on cancer cover

Scottish Widows’ decision to supply Virgin Money’s directly sold cancer cover has provoked the ire of many advisers.

Virgin cancer cover, the Big V, is aimed at Virgin’s youngish consumer base, typically 18-34 years old. It will pay out if policyholders get cancer, whether diagnosed in the early, intermediate or advanced stages.

However, advisers believe it does not make sense because they could get these people a broader combination of critical-illness and life cover cheaper.

The Widows’ argument is that this market has no protection in place but linking with Virgin will encourage them to consider it.

Advisers say the crux of their argument is the fact that around 70 per cent of late-stage diagnosed cancers lead to death in 12 months. This, they say, is where life cover is necessary.

No one is suggesting a ban on direct selling but Virgin and Widows must make sure no one gets the wrong impression about what they are buying and their associated rights.


NAPF secures Govt cash for generic body

The National Association of Pension Funds is setting up a generic advisory body, sponsored by the Government, to give general advice on retirement. The NAPF successfully secured funding from the Pensions Education Fund run by the Department for Work and Pensions. Pensions Force will be a not-for-profit organisation aiming to develop initiatives to engage with […]

Worthy of note

Outgoing Sesame commercial director Charles Bryant has been revealing some of the secrets of his success to the Diary. The Rachel Stevens’ groupie explains how he arranged his own hen night – just him and a group of tanked-up women. As the Bacardi Breezers flowed, the ladette talk got more filthy, with Bryant taking study […]

Simply Biz picks up from rivals

SimplyBiz has reached a a total of 1,200 member firms and 2,400 individual adv- isers in the three years since its launch. It says it has also seen increased numbers of new members joining from Bankhall over the latter months of last year since management changes at Bankhall. Managing director Ian Thorneycroft claims that firms […]

Inheritance tax and estate planning – exemptions and reliefs

By Kim Jarvis, technical manager with Canada Life’s ican Technical Services Team In this article we look at the main exemptions and reliefs that are available on death. Within the article, spouse also means civil partner.   Nil-rate band Under current rules, any part of the estate that falls within the available nil-rate band (NRB), […]


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