View more on these topics

Product matters

Several providers have recently become new entrants to the business protection market in an attempt to expand their market share.

It is interesting to see how the established players respond to these moves. Hopefully, product innovation and the development of policies to appeal to a wider market will mean a move away from the much debated price war.

Unum is a main player in group protection and has launched a dual benefit group income protection product aimed at small and medium enterprises. For smaller businesses, the problem of employee absence through sickness will often mean there is a need to provide benefits for the employee and the employer and this is what makes this product attractive.

In addition to the employee benefit, monthly business benefit is paid to the employer to manage issues such as temporary staff replacement. Policies can have a deferred period of as short as four or eight weeks as opposed to the standard 13 or 26 weeks which prevail in the wider market. This will be particularly useful to smaller businesses which have greater cashflow restrictions.

I like the provision of an automatic lump sum to employees who remain incapacitated from one of a number of serious illnesses on expiry of the benefit term.

This feature, comb- ined with support from vocational rehabilitation consultants should attract this product to IFAs wanting to add value to their advice process.

Peter Chadborn is principal of CBK


Moneycorp widens forex operations

Foreign exchange company Moneycorp is opening two new offices in Portugal and Turkey.The new operations are to provide specialist foreign exchange services to overseas property investors.The openings in Vilamoura in the Algarve and Bodrum in Turkey take the total number of Moneycorp offices worldwide to nine. Three have opened in the last year.Moneycorp head of […]

Tiner links up with Duffield

Former FSA chief executive John Tiner has joined New Star as a non-executive director.Tiner left the FSA last summer on six months gardening leave with a £325,000 payout.New Star chairman John Duffield and Tiner worked together as part of industry efforts to find a solution to the split-cap investment trust debacle in 2004.Tiner headed the […]

Standard & Poor’s downrates Fidelity UK special sits fund

Standard & Poor’s has drop- ped its long-term outlook for Fidelity’s £2.8bn UK spe- cial situations fund to an A rating.The fund had long been AAA-rated under investment guru Anthony Bolton before being placed under review by S&P following Bolton’s decision to retire from direct fund management at the end of 2007 and the fund […]

Passive resistance

Industry anecdotes suggest that IFAs are moving to passive income streams and away from a reliance on initial commission but research from True Potential tells a different story.


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