View more on these topics

Legal & General slashes rates for online business

Legal & General is slashing life and critical-illness cover rates for online business, emphasising that brokers will have to become more active in the e-protection market.

Its reduction in rates for online submission reflects its e-philosophy.

A couple aged 35 next birthday applying for a £150,000 joint level term policy over 25 years would pay £16.98 in monthly premiums for paper submission compared with a premium of £16.31 for electronic submission.

The difference is considerably greater for cover for 35 years under the same plan for a couple aged 25. A paper submission would cost £22.89 a month but an e-submission would cost only £13.91 a month.

L&G is encouraging IFAs to make submissions online to the extent that it is pulling out of the market for terms of 35 years plus that are not made via the web.

Life Policies Direct managing director Jason King says: “I expect that this trend will continue as e-submission develops and grows in popularity.

“Brokers will have to embrace e-submission or withdraw from the protection market.”


Exclusive Connections – Next Move Tracker

Type: Tracker mortgage Tracker term: Lifetime of loan Tracker rate: 1.35% above Bank of England base rate Payable rate: 6.5% Minimum loan: £25,001 Maximum loan: Up to 85% of valuation subject to a maximum of £500,000, up to 80% of valuation subject to a maximum of £800.000, up to 75% of valuation subject to a […]

Bupa is pulling out of the pre-funded LTC sector

Bupa is withdrawing from the pre-funded long-term care market following a strategic review despite claiming just six months ago, after pulling out of immediate needs, that it remained committed to it. New cover will not be accepted from June 11, although pre-funded policyholders and applications for its Futurecare range of products received before the cut-off […]

Why are IFAs taking blame?

I enclose a copy of a letter received from Standard Life concerning one of its policies that we recommended in March 1990, for which we have now received a letter of complaint. One would think the life office would offer every possible assistance to the IFA.I am amazed at how little support is offered by […]

IFA firms take an early lead in mortgage authorisation

The Association of Mortgage Intermediaries is calling for a “level playing field” between IFA networks which are already regulated and those coming into the market in the run-up to M-Day. Director Chris Cummings says he is concerned about what will happen if IFA networks get their minded to authorise letters before mortgage networks, saying it […]

Tax allowances and exemptions

Helen O’Hagan, Technical Manager at Prudential, looks into the planning strategies that can deliver considerable tax savings for your clients. Inheritance tax (IHT) Consider Margaret, featured on our Planning Matters family hub, who is a sprightly eighty year old with four children and several grandchildren. She’s recently been widowed and IHT planning is high on […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm