The FSA has announced it will be proposing that pension term assurance (PTA) should be sold under ICOB rules as well as COB rules. What does this mean for protection intermediaries? Is there a future for PTA, and how long is the product likely to last for?
Market views Peter Chadborn, Chadborn Baker & Kearle All advisers operating under ICOB rules must be relieved to hear this news. It would be detrimental to their standing as protection intermediaries to be unable to recommend an important product such as PTA. PTA will be a new product for many. With the exception of the Association of British Insurers' consultation paper on critical illness, the only product innovations we have heard about of late are rate cuts, which are hardly inspiring. PTA should be a key factor in reducing the much talked about protection gap, so I hope that ...
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