Schroders takes aim at protection gap with new proposition

‘Growing societal need’

John Brazier
clock • 1 min read

Schroders Personal Wealth (SPW), a joint venture between Schroders and Lloyds Banking Group, has launched a new proposition to address the UK protection gap

Designed to tackle a protection gap estimated at £2.4 trillion by Swiss Re's Term and Health Watch Report 2012 and a "growing societal need", the proposition will see SPW take no commission on any protection advice from clients when discussing wider financial planning. The new proposition is based on SPW's established existing relationships with Scottish Widows and Legal & General, providing life insurance, critical illness, income protection and whole of life cover. SPW states that the Covid-19 pandemic has increased awareness of protection products and that of financial vulnerabilit...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

The COVER Review: Claims and underwriting, employer NICs and health checks

The COVER Review: Claims and underwriting, employer NICs and health checks

Week commencing 31 March

COVER
clock 04 April 2025 • 1 min read
British Friendly pays out £5 million in 2024

British Friendly pays out £5 million in 2024

86% of all IP claims paid

Jaskeet Briah
clock 03 April 2025 • 2 min read
Claims and underwriting: Securing life cover after breast cancer

Claims and underwriting: Securing life cover after breast cancer

“Don't take the initial decision at face value”

Jaskeet Briah
clock 02 April 2025 • 6 min read