Latest - PROTECTION

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  New protection comparison functionality scores policies most likely to pay out

  8 October 2018

  The Finance & Technology Research Centre (F&TRC)  has launched a new functionality within its Quality Analyser system, enabling advisers an paraplanners to compare critical illness policies based on personal circumstances, age, gender and the term of the plan. There are currently over 200 different conditions covered by CI products, making it increasingly difficult for...

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  Consumer scepticism of protection products needs to be tackled

  19 September 2018

  Many consumers remain sceptical about the level of insurance claims paid out, new research from Aegon has shown.  An overwhelming 92% of people believed the UK insurance industry pays out less than 90% of protection claims each year, with just 8% believing the figure was higher than that. Aegon labeled the findings “disturbingly low”...

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  Monthly income preferred over lump sum insurance payouts

  21 August 2018

  The majority of people would prefer insurance that pays a monthly income rather than a lump sum, new research by Aegon has shown.  The insurance giant said 58% of people expressed a preference for monthly payments. To meet this demand, Aegon has added critical illness (CI) family income benefit (FIB) and life with CI...

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  Aegon pays out £2.3m in skin cancer claims

  15 August 2018

  Insurer flags need for early identification and ‘thorough’ approach to application forms.   Skin cancer accounted for 8% of all cancer-related claims in 2017 received by Aegon. While it wasn’t the most common type of cancer-related critical illness claim, the insurance and pensions provider paid out £2.3 million in skin cancer critical illness claims...

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  Call for statutory regulation of pre-paid funeral plans

  12 August 2018

  Funeral plan provider Golden Charter has called for the Funeral Planning Authority to be given the power of statutory regulation of pre-paid funeral plans, arguing it would better serve IFA and consumer interests. The group says providing the FPA with enhanced powers would provide the funeral market with a focused regulator. According to Golden...

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  Old Mutual Wealth boosts critical illness cover with 80 enhancements

  6 August 2018

  Old Mutual Wealth has announced that it has made nearly 80 enhancements to its critical illness cover, enabling more clients to make claims. The company, which is part of wealth management group Quilter plc, said changes included a combination of new medical conditions, enhancements to payment conditions, improvements to children’s cover and clearer definitions....

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  Survey looks at financial terminology understood by consumers

  26 July 2018

  Financial terminology remains a minefield for many UK adults, with a large number lacking the knowledge and confidence to correctly understand the different meanings, according to research by Reboot Online Digital Marketing Agency.  Of all the financial terms, Reboot Online found ‘savings account’ was the best understood, with 92% of British adults feeling confident...

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  AIG Life’s critical illness, life, and income protection added to UnderwriteMe

  17 July 2018

  AIG Life Limited has added its upgraded critical illness, life, and income protection cover products to UnderwriteMe’s comparison service. The addition of AIG Life means a total of eight UK protection providers are now live on the online service, which enables intermediaries to quote, compare, underwrite and sell with ‘buy now’ prices. The online...

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