While the dust may still be settling after A-Day, it is clear the life market has been rejuvenated by the introduction of pension term assurance, writes Andy Milburn
Providers had three options open to them in the run up to A-Day: they could choose to do nothing; they could launch a pension term assurance (PTA) product to try to defend their existing book of ordinary life cover business from walking away; or they could launch a new PTA product to chase not just new sales but sales made through advisers who have reviewed existing cover with their customers. The majority of providers went for the latter option. There are now 10 PTA products available to IFAs in the UK from Bright Grey, Bupa, Friends Provident, Legal & General, Liverpool Victoria, Norwi...
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