Long live the life companies

From Richard Griffiths

In my Comment page of November 29, your readers may have got the impression that I expect life companies to follow the dinosaurs in disappearing from the face of our planet.

This is misleading in that I was referring to the few remaining tied agency salesforces of the life companies, not the life companies themselves. Many such tied agency salesforces have disappeared over the past 10 years and, in the new FSA regime of transparency and ‘clear, fair, and not mis-leading’ dealings with the consumers, I believe any adviser tied to a single product provider will find it increasingly difficult to attract clients.

I hope life companies remain in business as providers of life and critical illness cover. We deal with many such companies and expect to do so for a long time to come.

Richard Griffiths
Network Data
By email