Protection

This jargon buster unravels the complex world of life protection.

LTC

Lloyds Banking Group is back in the black after announcing a profit before tax of £2.1bn for the six months to the end of June - and said it is on course to target IFA clients orphaned by the Retail Distribution Review (RDR).

LV= has seen a drop in life and pensions sales of 14% for the first half 2013 compared to last year.

PayingForCare.org has launched a care cap calculator to help advisers and their clients make informed funding decisions.

Barclays will be among a number of major banks this week to set aside further money to compensate customers mis-sold payment protection insurance (PPI) and interest rate swaps, according to reports.

Access to professional advice is "crucial" for people planning their retirement, given the current state of the state pension and long-term care system, delegates heard.

Insurance pioneer Clive Cowdery has taken his consolidation strategy across the pond after securing a $600m deal for US insurer Lincoln Benefit Life.

The cost of dealing with the country's ageing population will increase government spending by about 4% of GDP - or £61bn in today's terms - by the 2060s, according to government projections.

Aviva managing director of protection Richard Verdin is to leave the insurer by the end of the year.