Opportunity knocks to plug the UK protection gap

protection products

With fewer restrictions on the sale of pension term assurance after A-Day, pension term assurance has the potential to add a whole new dimension to the protection market

A-Day signalled many opportunities for both providers and advisers, some of which spilled over into the protection market, with new rules injecting a new lease of life into pension term assurance (PTA). Several providers launched PTA products promptly on 6 April, others have done since, and more still look likely to follow in the future. The Pensions Act 2004 allowed fewer restrictions on the added attraction of cost savings through tax relief on the premiums and PTA has the potential to add a whole new dimension to the protection market for both advisers and their customers. It has pre...