View more on these topics

Life&#39s a Peach as internet firm offers group cover

A virtual life office selling group protection products and targeted at IFAs is being set up by two ex-Canada Life employees.

Peach Global Financial Solutions aims to remove barriers such as poor customer service and long delays in getting quotes.

Its online service goes live next week with its group risk scheme the all employee protection plan, which is underwritten by Criterion. This will be followed by group waiver of premium for stakeholder. The venture is targeted at SMEs with five or more employees who do not currently have group cover.

Peach says the group risk market is dominated by a small handful of insurers and the distribution is a stranglehold controlled by two or three employee benefit consultancies.

It claims quotes will be turned around in a day and IFAs who do not want to conduct business over the net can email client details to Peach and get a quote within 36 hours.

Director Neil Stevens says: “This plan is significantly different from other group life plans in that it removes the time-consuming administrative burden typically associated with group life schemes and puts the IFA firmly in control in being able to define commission and premium levels.”

Recommended

Eurolife – The Income Secure Plan

Thursday, March 14, 2002Type: Guaranteed equity bondAim: Income linked to the performance of the FTSE 100 and S&P 500 indicesMinimum investment: Lump sum £5,000Place of registration: GuernseyInvestment split: 100% linked to the performance of the FTSE 100 and S&P 500 indicesGuarantee: Capital returned in full at end of term provided the indices do not fall […]

Accreditation where it&#39s due

The piece in the March 7 edition of Money Marketing headlined, LIA accredited adviser axed as it joins coalition, is an incorrect interpretation of a number of developments.As I am quoted as saying in this piece, the LIA accreditation scheme, which was first launched in the press last year, has had to be considered in […]

FSA says it wants stakeholder data

Providers will be required to give stakeholder persistency data to the FSA separately from other personal pension sales, the regulator has confirmed. They will also be compelled to report stakeholders sold through gap-filling arrangements, the FSA says in its response to Consultation Paper 103. However it is not forcing insurers to account for stakeholder sales […]

New Star strives to impress

NEW STAR NEW STAR HIGHER INCOME FUND Type: Oeic Aim: Income and growth by investing in UK ordinary shares, fixed-interest securities, preference shares, convertibles Minimum investment: Lump sum £1,000, monthly £50 Investment split: 100% invested in UK ordinary shares, fixed-interest securities, preference shares, convertibles Yield: 4% gross a year Isa link: Yes Pep transfers: Yes […]

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment