Scottish Provident has introduced the ‘source of funds’ concession for self-assurance term business, in line with anti-money laundering guidance.
The concession removes the need for advisers to complete an introduction verification certificate. Where the concession is not available, for example, if premiums are paid by a third party, the simplified, one page IVC can now be used.
Head of marketing Alison Turner-Holmes says: “This move will speed up and simplify the whole application process for the client and adviser. For Pegasus business, intermediaries can still take advantage of the simplified IVC.”