You are here: Home - News -

Transact and Ageas Protect launch investment-linked life cover

by: Fiona Murphy
  • 05/11/2014
  • 0
Platform provider Transact and Ageas Protect have teamed up to launch an investment-linked life cover policy available via Transact's platform.

The policy provides clients with life cover that offers a sum assured that automatically takes account of platform assets.

It is initially available via Transact for an initial group of 30 firms with a full roll out planned in 2015.

The companies said that there was “no doubt that wrap platforms have transformed the way in which advisers manage client investment portfolios. The addition of a protection product is a natural extension to the proposition in order to support the financial planning process.”

The initial launch provides 30 firms with access to Integrated Protection via Transact Online (TOL), with a view to full market access later.

The cover is arranged through an online portal developed by Integrated Protection Solutions Ltd (IPS), which is accessed via TOL.

The IPS portal has been developed with the underwriting support of Swiss Re and uses simple health and lifestyle questions to assess the client.

It is expected that the majority of applicants will be offered immediate cover without any referral.

The insurance policy is issued by Ageas Protect. Transact will also provide support with the use of trusts.

Transact is offering access to this protection product as a service and will charge a fee to cover administration costs.

The insurance policy does not generate commission and advisers can specify their agreed client fees which can be paid from the Transact Portfolio.

Jonathan Gunby of Transact said: “This will allow advisers to provide integration of investment and protection to their clients while experiencing the same levels of service they have grown to expect from Transact. We will continue to focus on our strength as a platform provider and will partner with others, as appropriate, to provide expertise in other selected product areas.”

Ageas Protect is the latest insurer to have launched a life policy via an investment platform following Zurich and Nucleus’s propositions. 

True Potential also said it would launch an investment-linked protection proposition
 

Tags

There are 0 Comment(s)

You may also be interested in