Skandia is, at least for a while, pulling out of the critical illness market.
It is all part of closing some of its older style policies to new business, in line with changing demands of customers and financial advisers preparing for the Retail Distribution Review’s rules coming into force.
Peter Mann for Skandia UK says, “Our experience shows that financial advisers are already moving towards fee-based advice models in response to customer demand and the Retail Distribution Review’s will accelerate this change. The new rules may seem like a long way off, but it is critical that the industry starts implementing changes now.”
Critical illness: News update: 9 August 2010