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Lincoln launches protection package aimed at IFAs

Lincoln is aiming to make major in-roads into the IFA protection market with the launch of a new flexible term assurance plan.

The Financial Protection plan offers policyholders a range of options and guaranteed premiums.

It is available on a level or decreasing basis for terms of one to 40 years.

Policyholders can opt for additional protection through either critical illness cover or accelerated permanent disability benefit, which pays out death benefits early if the policyholder suffers from a permanent disability.

Policyholders can also choose to protect themselves against illness during the term of their plan with mortgage disability income benefit.

This option provides tax free monthly income during the policy&#39s term if the policyholder is unable to perform two out of six activities of daily living. These ADLs include hearing, standing, speech, vision, use of pen pencil or keyboard and walking.

The MDIB can be selected on its own or with any combination of the other benefits. Unlike other income protection plans which are based on earnings and occupation, MDIB is calculated as a percentage of the loan.

Lincoln savings and protection manager Russell Owen says: &#34Since 1992 the number of people who need additional life cover, having opted for Pep or Isa mortgages has doubled.

&#34Financial Protection with mortgage disability income benefit is not only good value for money, but fulfils a very real demand for decreasing term insurance to support repayment mortgages.&#34


Woolwich and Marsh & McLennan launch joint IFA venture

The Woolwich and Marsh & McLennan Companies have agreed to establish an IFA joint venture.The joint venture will acquire the business of Sedgwick Financial Services, in a transaction which is conditional on approval by the PIA.The new company Sedgwick Independent Financial Consultants, will have some 145 registered intermediaries and focus on advising clients gained through […]

Bank of England announces 0.25 per cent rate rise

The Council of Mortgage Lenders has welcomed the announcement by the Bank of England today that interest rates will only rise by 0.25 per cent.CML director general Michael Coogan believes the move should not dent the healthy housing market although it may help dampen down local &#39hot spots&#39.He says: &#34The CML has been anticipating that […]

Scottish Widows calls for waiver to remain under stakeholder

Scottish Widows has called for waiver of contribution to remain an under the new contribution regime outlined in the Government&#39s Consultation Brief Number 6 on stakeholder pensions.Waiver of contribution benefit currently allows personal pension policyholders to continue building their pension fund during prolonged bouts of illness or disability.But the Government has brought into question the […]

Government to intervene over missold endowments

The Government says it will intervene to protect individuals, if it finds widespread misselling of mortgage endowments according to the Financial Times.The trade and industry secretary Stephen Byers says he will take action if the Treasury finds evidence of misselling, which is believed to have occurred in the lates 80&#39s and 90&#39s.He says: &#34We are […]


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