View more on these topics

Permanent widens choice on critical illness

Protection specialist Permanent Insurance has enhanced its critical-illness range with two whole-of-life plans, Critical Illness Lifetime and Critical Life Lifetime, which includes life cover.

Permanent says it wanted to complement its existing term products.

One attraction of the new plans is that double the sum assured is paid out where a claim results from an accident.

Another useful feature is that the plans have no exclusions once underwritten, unlike some policies which exclude claims relating to drugs, alcohol or pregnancy. Permanent is aiming the plans at younger clients, who it believes have a greater awareness of their vulnerability to a critical illness.

The whole-of-life structure also offers more flexibility than a term contract.

Comparing costs, Permanent quotes a rate of £23.69 a month compared with £24.12 from SMA Pegasus, based on a male non-smoker aged 35 next birthday, with a sum assured of £75,000, on a whole-of-life basis with life cover, indexed benefit in line with the retail prices index.

Recommended

Brief

Royal London&#39s £130m European growth fund is sixth out of 1,495 unit trusts over the last year with growth of 31.5 per cent. The fund is one of the few in the top 10 to invest in Europe. Most of the others are North American funds. The Royal London fund, which is managed by Mark […]

Church outperforms pension funds

The Church of England leapt ahead of average UK pension fund performance in 1997 as returns on investment soared to nearly 20 per cent. The Church Commissioners&#39 annual report shows total return on assets ran at 19.7 per cent against an industry benchmark performance of 16.5 per cent from UK pension funds. The results look […]

EFM turns trusts into Oeics

Edinburgh Fund Managers is set to convert its £600m in unit trusts into an Oeic. Group sales and marketing director Nigel Whittingham says the company is committed to transferring all its 21 unit trusts into open-ended investments. Edinburgh&#39s unit trust business represents 12 per cent of its £7.4bn total assets under management It also has […]

CII offers extra sittings for G60 paper

The Chartered Insurance Institute is to provide two additional sittings for people taking the G60 pensions paper of the Advanced FPC. The extra sittings will be held on July 17, 1998, and January 22, 1999 in addition to the scheduled sessions on April 22 and October 21, 1998. From March 31, 1999, the PIA will […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment