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Insurers often team up with specialist third parties to provide ‘value-added benefits’ which are not the primary reason for buying protection policies but do enable people to make use of them in their daily lives.
Although financial protection policies come in many forms, they all tend to pay out if a policyholder suffers a serious illness and then survives.
The Protection Distributors Group has welcomed three new organisations into it ranks. Heath Protection, Towergate Health & Protection and Onestopmortgageshop joined the PDG this November taking the number of members in the trade body to 24.
Lloyds Banking Group (LBG) has announced a deal to acquire protection distributor, Cavendish Online, for £12m.
The protection sector has made some strides this year. It has reacted well to the Covid pandemic and the successful government vaccination programme.