National Friendly has withdrawn its Five Year Fixed Healthcare and Healthguard products for sale to new customers.
The mutual said the decision has been taken to protect the capital integrity of the group as the only provider to be writing lifelong product. Richard Sear, chief executive, says: "With claims rising as a whole across the PMI market, we are no longer in a position where we can sustain this product at the existing levels of volume and value. "As a mutual, we firmly believe that our first responsibility is to protect our members. We are therefore not frightened to make the right decisions to underline and secure the Society's future." National Friendly will continue to sell One Fund ...
To continue reading this article...
Join Professional Adviser
- 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.