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Friends Provident adds critical illness cover and waiver of premium benefit

Friends Provident is adding critical illness cover and waiver of premium benefit to its level term assurance and decreasing term assurance homebuyer protection plan.

The critical illness element covers the core range of illnesses, including heart attack, cancer, stroke, major organ transplant, multiple sclerosis, kidney failure and coronary artery bypass surgery.

The waiver of premium element contains options for mortgage increases and special events, as well as a composite rate system, which simplifies the age bands under which people are assessed.

Friends Provident has made these changes for two reasons, one of which is to reflect changes in the mortgage market. The recent criticism of endowment mortgages has lead to a move away from products with an investment element towards mortgages with term life cover only. The other reason is that Friends Provident sees the protection market as a growth area.

The addition of these elements has to be welcomed, especially as protection is indeed a rapidly expanding area. This is due to Britain&#39s working population, who are starting to realise the state will not pay for them.


Mortgage 2000 and Bristol & West team up

Mortgage 2000 and lender Bristol and West are to offer mortgage advisers a fixed rate deal designed to protect consumers from interest rate fluctuations. The two year deal will be at 6.49 per cent with an APR of 7.4 per cent. There will be a 1 per cent cashback. Available for both house purchase and […]

Sun Bank launches “Stretch” flexible mortgage

Sunbank announces the launch of its flexible mortgage which it says offers the customer more choice than existing products. The “Stretch” mortgage&#39 s features include a guaranteed seven day turnaround to offer, immediate access to payment holidays, simple lending criteria and special status for self-employed customers. These are in addition the normal over/under-payment facilities associated […]

ABN Amro has best unit trust survey indicates

ABN AMRO&#39s Equity Income Unit Trust is the top performing unit trust in the UK says private client fund managers Principle Premier. The fund is followed by the Newton Higher Income fund and the BWD UK Equity Income fund. Principle Premier has published its “white list” of the 12 top performing unit trusts over the […]

Fund manager Murray Johnstone on the block

Old Mutual is putting fund manager Murray Johnstone up for sale after acquiring it earlier this year from United Asset Management. A number of potential buyers have expressed interest in the Glasgow based fund manager including Aberdeen Asset Management, Britannic Asset Management and Edinburgh Fund Managers. Murray Johnstone manages £4.2bn on behalf of thousands of […]


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