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S6 Ep 6 -  High Net Worth

Hi everyone, we are back with Matt Rann and talking about high net worth protection insurance applications. We are talking about what makes a case considered to be high net worth and how advisers and underwriters might classify these differently. We are having a chat about joint life second death insurance, gift planning and what a retrocessionaire is.

The key takeaways:

• High net worth clients do not always mean high net worth policies.
• Most insurers have large case teams that typically handle policies with value over £1m. 
• Keep an eye out for the gifting of terminal illness payouts if you have done a policy for gift or IHT planning.

Next time we have Martin Stewart joining us from the London Money group. He is going to be talking about the mortgage market, why protection insurance is more important than ever, plus his question about why do we need the FCA Consumer Duty principle, surely we’ve all been doing these things already?

Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members.

If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.