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COVID-19 announcements dominate the week in protection

COVID-19 announcements dominate the week in protection

Without doubt the most important news in protection this week was  LV= reintroducing 1-day and 1-week deferred periodsAdam Higgs produced an excellent analysis considering not only the LV= situation, but also presenting the issue in the context of other providers. I would also like to applaud Aviva’s announcement that they are extending premium deferral scheme. It is great to see insurers not only going the extra mile to help clients in these difficult times, but also making it easy for them to access such facilities, putting it online. Both Adam’s updates are essential reading for anyone in the protection market in an otherwise relatively quiet week as far as new developments are concerned. 

In the absence of other significant events Protection Guru concentrated this week on our core activity of producing detailed technical analysis to help advisers understand who does what and how companies compare across the protection market. We began the week with an analysis by of Income Protection for the non-working partner who does what. 

Two summaries this week looked at business protection. The first considered what different insurers do to support advisers selling business protection followed by an analysis of when is financial evidence required on business protection cases.  

 Today Steve Berry wrapped up the week with the latest of our “everything you need to know” studies, this time looking at features that can be added to critical illness plans.  

I would like to highlight a couple of other articles I had published this week. In my Money Marketing Column which discussed making income protection fashionable again something I think is really important for consumers in 2021. Also my review of Aviva’s DigiCare+ in Corporate Adviser. 

Can I also to draw attention to a couple of forthcoming events. First our November Protection Guru Forum Which takes place next Wednesday 4th November 10:30-12:30. If you haven’t already got tickets these can be requested from the link above. The agenda will cover; 

Session 1: Adapting to the COVID/post-COVID world 

 – What has changed? 

 – Client meetings/engagement 

 – Provider processes 

 – Medicals & underwriting 

– Do advisers need more regular updates from insurers on their COVID stance? 

Session 2:Impact (Advantages and disadvantages) of mandatory income protection discussions in: 

 – Mortgage advice, financial planning, wealth advice 

 – Should FIB be part of this conversation? 

– What do IDD & MIFIDII require? 

Also a webinar I am presenting for the Personal Finance Society and Society of Mortgage Professionals on Why protection is essential to every financial plan  at 1 pm on November 11, if you register you will also be able to access the webinar subsequently on demand. 

For those interested in the workplace market our sister Benefits Guru site looked at the level of financial education support offered by different pension providers and support services provided by different pension providers.  

Stay safe and have a great weekend everyone.

About The Author


Ian McKenna is the founder of Protection Guru. A 40 year veteran of the financial advice and related technology markets. Having worked for insurance and financial advice firms in 1995 he set up Financial Technology Research Centre, which publishes Protection Guru over a decade before “fin tech“ was recognised as an industry term. He believes passionately that far more people can be protected by life insurance and related contracts if we can demystify these and make objective comparative information on policies more accessible.

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