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...
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