Progress by Royal Liver is adding a virtual underwriter tool to its website which aims to efficiently answer any protection queries advisers might have.The firm is also revamping its website, to go live on October 22nd, but the virtual underwriter element should be added to the current site on Monday.The tool will allow advisers to […]
Most providers have not increased the maximum age of their income protection policies from 65 years despite the Government extending the state pension age to 68.The state pension age is currently 65 for men and 60-65 for women but from 2010 it will gradually increase so everyone born after April 6, 1978 who are currently […]
According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.
The Organisation for Economic Co-operation and Development claims behavioural biases and low levels of financial knowledge are undermining people’s ability to make appropriate decisions for their retirement. The OECD’s Pensions Outlook 2018 says automatic features, default options and simple information and choice could combat the lack of financial literacy. The OECD’s view is that automatic enrolment […]
Aviva should pay £500 compensation for the way it handled an investment query that caused stress to a daughter who took power of attorney for her mother. In the Financial Ombudsman Service ruling, Miss S has power of attorney for her mother and complains Aviva delayed providing information about a bond. She goes onto argue […]
Advice is becoming a more risky business, meaning firms must rethink their approach to the issues they face Given the Financial Ombudsman Service’s compensation limit is set to rise to £350,000, it is time for advice firms to rethink their approach to the risks they now face. The FCA’s plan is for the new limit […]