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Understanding special benefits for Carers and Small Businesses plus a host of other valuable information

Understanding special benefits for Carers and Small Businesses plus a host of other valuable information

In another busy week Protection Guru started by acknowledging the enormous contribution that is made by 13.6 million unpaid carers in the UK. Our analysis explored the special features offered by AIG, LV= and Zürich to support those making such a valuable contribution to society, recognising Carers rights day 2020 which income protection plans offer support for carers.

On Monday we also looked at Scottish Widows showcase page with new content highlighting their Price Lock Promise. I really like this feature which guarantees that when an application is delayed due to medical requirements or any other reason, Scottish Widows will lock the price of any quotation given for 12 months after an application has been made, even if the client passes a quarter birthday.  It’s a very negative message having to go back to the client and say that premiums have increased because of delays, so it’s great to see one company addressing this issue, more insurers should look at providing something similar.

On Tuesday Amanda Newman Smith explored Which insurers make extra payments to younger clients with a critical illness. Aviva, LV=, Vitality and Zürich all distinguish themselves in this study.

Wednesday saw the launch of the Legal & General-showcase-page. I’m delighted to see them join the growing list of insurers working with us to create detailed analysis of their propositions. We continue to get great feedback from advisers on these pages, which is really appreciated, thank you. The Legal & General page really is packed full of valuable information so I would urge advisers to review it, there are many special services and features the company offer but are perhaps not as well known as they should be.

On Thursday recognising Lung cancer awareness month we looked at how critical illness plans cover condition lung cancer with our doctors providing explanations which I’m sure advisers will find useful in understanding this awful illness. 

We wrapped up the end of the week as usual with the latest of our

Everything You Need to Know Studies, this time considering Business protection in advance of Small Business Saturday next Saturday. The study includes: 

  1. Helping Businesses Cope with the-Loss-of-Key-Personnel-What added value benefits do insurers offer
  2. When is financial evidence required on business protection cases?
  3. Getting immediate cover for business protection
  4. Who has the most generous guaranteed insurability options on business protection
  5. Supporting advisers selling business protection who offers what

Over at our sister Benefits Guru site Jason Green look at Adoption of open banking by pension providers. This is well worth reading even for those not involved with the pension market as there are valuable lessons for the life industry to learn around how to take advantage of open banking. On Thursday the site looked at Net pay vs relief at source how is your workplace pension scheme set up.

Elsewhere this article in Money Marketing by Hannah Goldsmith Why I’m far from reassured by this insurer really resonated with me, not least because I predicted this experience also in Money Marketing in August last year Closed book sales will leave advisers worse off. Regulators need to sign off the transfer of closed books and in my view the FCA should be more diligent in making sure consumers and advisers do not lose out.

Finally a  reminder to register for ongoing access to Protection Guru or you will no longer be able to access the site in the future as we introduce extra services for advisers. Registration will also give you the opportunity to request access to both our and sites.

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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