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Slower rates of change in protection market

With product changes and over 40 rate changes, the protection market during 2003 was volatile to say the least.

In 2004, we expect further rate and product changes. Liverpool Victoria has recently announced a rate change for January but hopefully we will see less frequency and less volatility. The market should stabilise compared with 2003.

The critical-illness product is not broken yet and sales should continue to increase. However, in the race to develop a new-style product, the danger is fragmentation if providers flood the market with an array of alternative – and potentially inferior – solutions.

LifeSearch feels that the market could settle pretty much where it is now, with an effective product at a sustainable price. Guaranteed rates have become notably more expensive throughout 2003. However, these premiums are now on a par with the cost of equivalent policies six to seven years ago and we believe that guaranteed rates will still be available throughout 2004.


Liv Vic axes guaranteed rates on stand-alone CI

Liverpool Victoria has announced it is doing away with guaranteed rates on its MIMI stand alone critical illness policies and is striking angioplasty off the list of conditions covered. The insurer says the changes reflect the claims experience of its reinsurer GE Frankona Re, as well as changing market conditions and improved diagnostic techniques. While […]

Independent view

Dare I say it, but the pension review still lingers on like a dark shadow over the reputation of pensions and everyone connected with them. The public have been left with a nasty taste and severe doubts about what to do for the best.Having said that, we have definitely noticed an upturn in morale among […]

Chase fined £165k for structured marketing

Chase de Vere Financial Solutions has been hit with a £165,000 fine in the first FSA penalty against an IFA over the marketing of structured products.The regulator says Chase, which rebranded from Chase de Vere Investments following its merger with Moneyextra Financial Solutions last June, launched a marketing campaign last March through national newspapers, promoting […]

Honours for Axa boss Brydon and pension reviewer Pickering

Axa Investment Managers chairman Donald Brydon has received a CBE in the Queen&#39s New Year&#39s honours list.Brydon, 58, spent 22 years at Barclays and was chief executive of Axa Investment Managers from 1997 to 2002 before becoming chairman. He is also deputy chairman of the Financial Services Practitioner Panel.Prudential chairman and former Bank of England […]


School fees planning

Jeremy Pearson is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. Many parents value the standard of education offered by […]


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