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Protection sales up for Legal & General

Legal & General have announced that its sales of protection products increased by 88% in the first half of this year.

Annual premium sales of protection products such as term assurance and critical illness stood at £70m in the first half, compared to £37.3m in the first half of 2001. L&G capitalised on the growth in demand for repayment mortgages by continuing to offer protection products, with IFAs and business partners able to focus on clients&#39 needs for life and critical illness cover as well as mortgage repayment insurance.

L&G have enjoyed considerable success with their online proposition for recommending and submitting cases, with more than half of its protection applications submitted online.


Industry questions Treasury&#39s &#39modest&#39 costs

The Treasury says that it will take into account the cost of implementing the regulatory regime for both lenders and brokers, writes Helen McCormick.Most respondents agreed advice should be regulated – provided the approach taken by the FSA was “proportionate”. But many believe that it is not possible to state categorically “that the costs of […]

PS106 set to unlock TEP market

The traded endowment market is expected to receive a major boost in September when FSA rules on client advice. Under policy statement 106, endowment policyholders seeking information on surrendering a policy will be made aware of the option to sell it from September 1. TEP outfit Surrenda-link estimates that a potential £15m in commission could […]

New rules on business loans

The FSA has reviewed its earlier plans for the regulatory status of business loans, proposing a “lighter touch” regime for lower risk business loans. The regulator says in its latest consultation paper 146, that contracts for a limited term of twelve months or more and contracts for a limited amount, suggested as £10,000, should be […]

Bristol & West launches five-year fixed rate

Bristol & West Mortgages today launches the lowest five-year fixed on the market , with a headline rate of 4.89% . The product reverts to Bank of England base rate plus 1%, has no extended redemption charges and is available up to 95% LTV, with no restrictions on who can take out the offer. The […]


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