Bright Grey moves to guard consumers from inflation

It says the option, also known as an escalation option, can be added at a fixed rate between 2% and 5% for either policy on guaranteed rates, or linked to the Retail Price Index (RPI). Bright Grey has also increased the maximum term from 30 to 40 years. Protection provider progress from Royal Liver flagged the issue with IFAonline in February, arguing advisers and consumers taking out a protection policy were “missing a trick” by failing to consider the impact of inflation. Kevin Stevens, head of intermediary sales at Bright Grey, says: “With increasing utility bills, food, drink and fuel...