For quite some time, the long term care (LTC) market has remained fairly quiet. The sector has seen little innovation in terms of product development, and although sales have been growing in the immediate needs sector, they have continued to fall in the pre-funded market.
A new idea ' with problems? However, all that has changed in the last few months as the sector has undergone a great deal of upheaval. The Pension Annuity Friendly Society (PAFS) launched a new pre-funded product that combined insurance and investment, the first of its kind in the dwindling sector. (Unfortunately, data on the new product for inclusion in the survey tables was unavailable at the time of going to press). While the product has been warmly welcomed by a market devoid of any major development over the last few years, there are questions over the impact PAFS's Flexible ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
