Liverpool Victoria is piloting a scheme to sell its pension term assurance products to existing customers via dir- ect mail.
The mutual will offer PTA to 45,000 of its existing non-IFA customers in mailouts starting on September 23. Customers will be able to respond to the mailshots by phone and will be asked whether they want to buy a policy on an execution-only basis or with advice. If the pilot scheme proves successful, LivVic will ext- end the direct-mail service to its other non-IFA existing customers. But Lifesearch head of protection strategy Kevin Carr says this is a contradictory move for LivVic and he is concerned that the literature will steer customers away from advice and towards buying on an execution-only basis. LivVic recently announced it was adding Red Arc’s services to its critical-illness policies and Carr thinks that this is at odds with the firm roll-ing out a direct PTA offering. Aegon Scottish Equitable head of marketing protection Rod McKie says: “We have a strong preference for advice because it is a more complicated product than other life policies.” Liverpool Victoria director of intermediary sales Stuart Tragheim says: “We are probably one of the bigg- est providers that use direct mail in the UK so it is not new for us to be doing this. We will deal with customers in whatever way they choose to be dealt with.”View more on these topicsNews
Lacomp Investment Management – Lacomp British Enterprise EIS Fund 7
Lacomp Investment Management
Lacomp British Enterprise EIS Fund 7
A hollow victory
Given a straight choice, most of us will generally back David against Goliath. The little man, bravely fighting back against corporate might, automatically garners sympathy from people, especially IFAs, many of whom tend to see themselves in that same role.
Paternoster lands 70 buyout deals
Defined-benefit consolidator Paternoster says it has 70 scheme buyout deals in the pipeline, amounting to over £10bn in liabilities. Chief executive Mark Wood says the start-up firm, which signed its first deal last month, will reveal its contract deals in the next six weeks after the changes have been communicated to scheme members. Wood says […]
DB transfers risk losing enhanced protection
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RLAM caters to broad range of investors with Multi Asset Funds
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Adviser trade body calls on govt to save pension dashboard
Adviser trade body Pimfa has called on the government to go forward with the pensions dashboard as rumours swirl that ministers are considering abandoning the idea. Pimfa’s call comes after reports claim work and pensions secretary Esther McVey believes that the pensions dashboard would be a distraction to rolling out universal credit and so should […]
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The year so far has been full of manager and senior staff moves. Earlier this month, eight senior staff at Standard Life Aberdeen left to go to Aviva Investors, to join former Standard Life Investments equities head David Cumming. With moves like this in mind, is a management team or sole manager the better choice? […]
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