Protection: Legacy of the '10-minute term'

About 10 years ago I was sitting in an office at Legal & General, very much like the one I sit in at Aviva today, when someone started to tell me that a chap called John Pollock, who had recently returned from working for L&G in the southern hemisphere with a big idea for protection. It turned out that John was proposing that L&G UK invest in something he was calling ‘10-minute term’, an idea he had either had or witnessed while working “down south”. At the time I remember thinking, “So what?” I was young, naïve and having never worked for a big company, I had not yet fully grasped th...