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SLFoC aids IFAs with risk deal for smaller clients

Sun Life Financial of Canada is setting up an initiative for IFAs to pool their smaller company clients together into group risk and income protection schemes.

Aimed at entitling smaller companies to the benefits usually reserved for the biggest company schemes, the move allows IFAs to place clients into particular industry sectors such as IT.

SLFoC will then make arr-angements to tailor services to the needs of each group of companies.

Among the benefits of the scheme are higher fee cover limits than are usually available and a flexible framework to enable independents to build bespoke products for each group.

There is also a single rate structure to simplify the quoting process for IFAs.

Managing director Paul Davies says: “IFAs need to be able to provide their small and large clients with top quality products and through our new umbrella arrangements IFAs are now able to do this with the minimum of fuss. These arrangements are just one example of how we work with intermediaries to give them the best service.”

Roberts Clark director Jo Roberts says: “Anything that gives smaller firms better rates is very beneficial for the industry and employers. But it may be more suited to industries with a low average age of employee – such as IT – as firms with older workers may get a lower rate by seeking cover on their own.”

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