Scottish Equitable Protect paid out 631 critical-illness claims totalling more than £33m last year.The company decided to release its critical cover claims’ figures two years ago after calls from IFAs for statistics to be published. The average claim for ScotEq Protect was £61,390 and the average age of claimants was 40. The statistics show that cancer was responsible for 71 per cent of all female claims. For male claims, 47 per cent were due to cancer while heart attacks and strokes accounted for 21 per cent and 10 per cent respectively. Scottish Equitable head of marketing Rod McKie says: “Claims’ data can highlight the benefits of protection and how it can help to preserve people’s lifestyles. It also can reveal the claims that are not paid and can explain the valid reasons why.” Lifesearch senior technical adviser Kevin Carr says: “We are actively encouraging more product providers to do this. Fig-ures help IFAs and the public understand what products do and don’t do. As a result, they can, without a question, limit non-disclosure.”
Hargreaves Lansdown fund of funds have broken 250m in sales since the firm launched its first multi manager product in 2001. It uses a mixture of qualitative and quantitative analysis to run the money under Lee Gardhouse, who has developed his own system to identify how returns are achieved. The three Hargreaves Lansdown multi manager […]
Premier Mortgage Services managing director John Malone thinks he has an idea that could not only save the first-time buyer property market but could also kickstart the market as a whole as it reaches a dull, flat period.
Bankhall is entering the general insurance market with the launch next month of Bankhall UK GI following the acquisition of GI broker support firm Total Broker Solutions.
Why is there so much financial services advertising, direct mail and literature, digital and other communications that is missing the mark? A lot of this is produced by financial services specialist agencies but much of it looks the same. How effective is it? What messages are IFAs getting from product providers? How does the IFA […]
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology