View more on these topics

PruProtect extends life cover booster offer

PruProtect is extending its cover booster offer, which gives customers taking out its life and serious illness plan an additional 30 per cent life cover free of charge for three years, until the end of February.

The deal was initially launched in June and offered the additional cover to customers who took out cover before the end of September. But the provider has now extended the offer until the end of February. PruProtect says the decision was made so advisers have an added promotional tool to persuade customers to take out cover before 21 December, when it becomes illegal to calculate insurance premiums based on gender.

Customers receive the 30 per cent extra life cover free of charge for three years, after which they have the option to continue with the extra cover permanently. Those who take up the offer will receive a premium discount of up to 15 per cent, based on their Vitality status, which is the provider’s scorecard to determine how healthy a person is.

PruProtect marketing and distribution director Justin Taurog says: “We recognise that the industry is approaching a period of some uncertainty with regards in particular to gender neutral pricing. Many intermediaries are doing their best to promote protection to their clients before prices inevitably change in 2013.

“Extending our popular cover booster offer is just one way in which PruProtect is committing to help the adviser community and to thank them for their part in the extraordinary results we have enjoyed since our launch.”

Earlier this month, the provider launched an income protection plan for NHS doctors which automatically changes in line with the NHS pay structure. The NHS has a structured sick pay for doctors which increases each year during the first five years of employment.

After five years, should the doctor become ill, injured or disabled and cannot work, they receive full pay for six months, followed by half pay for six months. The product is designed so advisers will not have to make regular changes to the client’s policy.

The provider recently announced a 39 per cent increases in new business premiums in the financial year to the end of June, with sales of £36.4m. Its intermediary market share in the first quarter of 2012 was 8.7 per cent, up from 5 per cent a year earlier.

Recommended

1

PFS says VAT rules do not fit with service-led models

Personal Finance Society chief executive Fay Goddard has argued HM Revenue & Customs’ position on whether advice is liable for VAT under the RDR does not reflect the shift towards service. HMRC finalised its RDR guidance on VAT liability in March, which said where the customer seeks the arrangement of a retail investment product and […]

Standard Life Investments to launch EM debt fund

Standard Life Investments is launching an emerging market debt fund after it hired former Threadneedle head of emerging market debt Richard House. House joined SLI in April as head of emerging market debt alongside his two colleagues Mark Baker and Nicolas Jaquier, who joined as investment directors for global emerging market bonds. The firm does […]

Lifesearch signs protection advice deal with Gocompare.com

LifeSearch has signed a deal with comparison site Gocompare.com that will see it offer free telephone-based protection advice to Gocompare users. Gocompare customers who buy their policy via LifeSearch will also be offered advice on setting up trusts and will be able to access LifeSearch’s claims desk which aims to ensure claims are paid promptly. […]

Advisers believe pre-funded FSCS would increase payouts

Advisers say moving the Financial Services Compensation Scheme to a pre-funded model could lead to more payouts because the FSCS would have a readily available pot of money. Last week, FSCS chief executive Mark Neale said the idea of pre-funding deserves a “fresh look”. In the first edition of his new industry blog Perspectives, published […]

Risk-free path to pensions is a myth

Robin Geffen, Fund Manager and CEO Are you taking enough risk? Robin Geffen, Founder of Neptune and Manager of the top performing Global Alpha Fund, discusses the importance of accepting enough volatility in planning for retirement. Click here to read the full article Important information Investment risks The value of an investment and any income from […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com