Insurers supportive of PDG's call for increased use of beneficiary nomination

Originally outlined in an article from PDG chair Neil McCarthy earlier this month published by Money Marketing, the group called for greater use of this mechanism among insurance providers to ensure greater consumer take-up of life insurance cover and improved outcomes at the point of claim. Referencing a recent report from Swiss Re and Insuring Change, McCarthy detailed that contractual beneficiary nomination can offer a simpler alternative to life policies being placed in trust. He also highlighted such a move would mean the introduction of annual statements, detailing to policyholders...