When addressing a client's protection needs, most products deal in the term space. But with people potentially outliving these contracts, Owain Thomas looks to whole of life for rejuvenation.
Good things come in small packages, we are often told. Well, in some cases, it’s not just the package that is small, but the shop it came from. Such is the case with the whole of life (WOL) market. With estimates of just 20,000 traditional-style plans and a further 2,000 to 3,000 unitised plans sold each year from a handful of products derived from a few providers, many feel it has become largely ignored, even irrelevant. Only the guaranteed over-50 funeral plans market is seeing strong performance, with about 400,000 of these policies bought annually, the vast majority being unadvis...
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