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Qualifying policies charging for an exceptional risk of disability

When the terms of a qualifying life insurance policy are improved because the insurer discovers after it has sold the policy that it is not appropriate to charge for an exceptional risk of disability, the change in the policy&#39s terms can cause it to lose its qualifying status. This has never been the case where there is a charge for an exceptional risk of death.

Fully retrospective provisions are to be introduced which will ensure that a policy will not lose its qualifying status when the insurer removes either a charge on the disability benefits or a premium loading that was imposed because the insured person has an exceptional risk of suffering a disability or critical illness.

The proposed revision ensures that any extra cost, or charge on the disability benefits payable under the policy, is disregarded when determining whether a life insurance policy is a qualifying policy. This means that removing the cost or charge will not cause any policy to lose its qualifying status.


Zurich Financial Services – Zurich Guaranteed Account

Friday, 11 April 2003 Type: Capital protected bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £2,500-£250,000 Term: Five years six months Guarantee: Original capital returned in full regardless of performance in the index Return: Up to 100% growth at end of the term or 30% growth at end of […]

Ethical investors demand more data

Jupiter says investors in socially responsible funds want more detailed information on where their money is invested.A survey by the fund firm of 1,427 of its ethical investors shows that 90 per cent want greater transparency and information on how investment decisions are made and where money is placed.Ninety-five per cent of investors want to […]

North takes lead on property price rises

House prices rose by 1.1 per cent in March, according to the Halifax house price index.The figure is a fall from February&#39s 1.7 per cent increase. Halifax says the slowdown has been caused by an increase in the number of properties coming on to the market. For the first three months of the year, prices […]

Framlington offers free transfers during May

Framlington is offering what it is calling a “knockout transfer deal” for the month of May, allowing investors to transfer their Peps and Isas into its range of funds with no initial charge.It is offering 1.5 per cent up-front commission to IFAs during the month with 0.5 per cent a year renewal following that. The […]

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here


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