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NU pays 34m to income protection claimants in 2003

Norwich Union Healthcare paid out 34m in income protection claims in 2003 according to its first IP Claims Report.

The IP sales report has been designed for advisers to use during the sales process to help promote IP and display to clients its benefits.

The report is available for free to advisers from the NU Healthcare Bureau.

According to statistics from the Office of the Deputy Prime Minister, the top reason for mortgage arrears in the UK in 2002/2003 was the loss of earnings due to sickness and injury.

NU Healthcare income protection product manager Nick Homer says: “IP is a much overlooked policy. We hope these statistics will help advisers overcome product reticence and enable advisers to show that in a lot of cases IP can better meet their clients’ needs than the more favoured critical illness policies and in a lot of cases the payout with an IP policy can be much higher.”


Multi-manager view – Bambos Hambi

In a recent Multi-manager view Dennehy Weller managing director Brian Dennehy outlined the process he uses to select funds for his clients and suggested that other IFAs could do the same, rather than be lazy and invest with a multi-manager.

Open secrets

Last week, I looked at outright gifts and conditional gifts of an interest in property made by the first of a couple to die.


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