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PTA, No insurer has permanently withdrawn

Despite what you may have read on other web sites, in the trade press, national and local papers and heard or seen, NO insurer has yet confirmed they have permanently withdrawn from offering Pension Term Assurance.

 

The following insurers have either told us direct or by an official press release, that their product is suspended from any more new business or enquiries. The suspension will stay until talks with the Revenue and Treasury can confirm exactly what is happening on proposals to scrap tax relief- which if applied would kill the point of the product.

  • AEGON Scottish Equitable
  • Barclays
  • Bright Grey
  • Bupa
  • Friends Provident
  • Legal and General
  • Liverpool Victoria
  • Norwich Union
  • Royal Liver
  • Scottish Provident
  • Scottish Widows
  • Standard Life

The only insurer where we have no information yet is Lutine‘s product underwritten by Scottish Friendly.

 

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PTA, No insurer has permanently withdrawn
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