View more on these topics

LTC bond to pay back premiums

PPP Lifetime Care is using the strength of parent company Axa Sun Life to

launch the first of a new generation of investment-linked long-term care


The Asset Protection Bond will pay for care if it is needed but also aims

to pay back the investment on the death of the bondholder if a claim has

not been made.

The product has been constructed by linking the Lifetime Care plan from

PPP to Axa Sun Life&#39s flexible bond with additional life cover.

PPP says the product will allow the ltc benefit to be paid as tax-free

income, with the full benefit paid for a valid claim. It has three levels

of cover with a choice over when the benefits are triggered. There is also

a care support service.

The premium is split into two parts with one buying the long-term care

plan and the second buying the flexible bond with life cover.

PPP lifetime care head of retired market development Jacque Langford says:

“It is clear from everything the Government has been saying that long-term

care insurance has an important role to play in funding long-term care.

“Indications are that the Government will only payfor the nursing element

of ltc which means that elderly people with assets will need to consider

protect-ing against the remaining costs of care.

“We believe the issue of asset protection is a fun-damental part of

retirement and inheritance planningand IFAs are beginning to view long-term

care in this context.”

The product pays IFAs commission on both products at 9 per cent of the

premium for the lifetime care plan and 6.25 per cent of the flexible bond

with life cover.


50 MPs back Standard mutual fight

Standard Life has won the support of 51 MPs in itsbattle to stay mutual.Among those backing the life office is chairman of the influential AllParty Building Society Group, Andy Love.He has thrown his weight behind the mutual in its battle withcarpetbagger-in-chief Fred Woollard by putting down an Early Day motion inthe House of Commons – […]

Japan bull runs out of steam

Japan has been a source of good profits for investors in the past year.But it has all come crashing down again in the latest of manydisappointments for investors, who have waited 10 years for Japan&#39sstockmarket to recover.One wonders how long it will take for the Nikkei to get back up to 39,000,the level reached at […]

Change of name for Johnson Fry as it looks to boost retail funds

Moneyextra has set up moneyextra insurance, a new fully online virtualmarketplace for personal lines of insurance.The service offers product providers real-time feedback on the profiles ofprospects and customers.It allows insurers to monitor their competitiveness and manage theirmarket position by amending products and rates online, creating a virtualmarketplace where products and rates are matched to consumer […]

Scot Mutual targets IFAs with Woolwich loan deal

Scottish Mutual is offering a Woolwich remortgage deal exclusively to IFAs.The remortgage is only available to IFAs registered with the ScottishMutual Mortgage Alliance.The Switch and Save three-year stepped discount has no application feesand no redemption penalties after the discounted period. The discount is2.01 per cent in the first year, 0.76 per cent in the second […]


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