View more on these topics

ScotEq Protect points to checking income cover levels after pay rises

IFAs should check their clients have enough income protection to cover salary increases following traditional end of year pay reviews, says Scottish Equitable Protect.

It says this is particularly relevant for high-net-worth clients who may have received pay rises significantly outstripping inflation. Clients may not have taken up their annual inflation-linked cover option and should be encouraged to review their levels of cover each year.

Despite the recent economic downturn, many firms will have awarded pay rises and end-of-year bonuses, it says.

It has developed menu-based income and unemployment protection.

The personal and mortgage menu includes unemployment cover, flexibility to vary premium, term and benefit levels and pays out up to 55 per cent of gross salary until the client returns to work, reaches retirement age or dies.

The business protection menu gives a choice of keyperson and executive income protection and has an immediate acceptance facility and guaranteed insurability option.

Head of marketing Heather Armstrong says: “Clients may need to be prompted to review cover levels each year. This gives IFAs a opportunity to conduct a financial review.”

Recommended

New options aim to add to clarity of Prudence

Prudential is offering several new options on its Prudence bond in a move it says will help bring greater flexibility and clarity to with-profits bonds.The options include no initial charges, a minimum 100 per cent allocation rate and an annual bonus for investors who do not make withdrawals.The no initial charge option means investors pay […]

Swip to launch property investment trust

Scottish Widows Investment Partnership is to launch a new property fund next month, offering investors a gross yield of 7 per cent a year.The UK Balanced Property Trust Limited will be an investment trust listed on the London stock exchange. The offer period is set to open on February 11, with dealing commencing on March […]

Lincoln rolls out UK equity growth fund

Lincoln Unit Trust Managers is expanding its fund range with the launch of a new UK equity growth trust.The Lincoln Opportunities Trust aims to invest in between 50 and 100 small and mid cap UK stocks. It is hoping the fund will benefit from what it sees as a potential upturn in the UK market […]

Virgin and IF clash over ads

Lenders Virgin One and Intelligent Finance have become embroiled in a war of words over IF&#39s latest ad campaign which slates its rival.The spat has been caused by ads which went live this month featuring an IF borrower saying: “I made an excellent decision by moving from Virgin One to Intelligent Finance.”Virgin One says it […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment