Sun Life Financial of Canada (SLFoC) has opened a new umbrella arrangement that provides group risk and group income protection cover for smaller companies.
The scheme allows independent financial advisers (IFAs) to group together their smaller company clients into a particular industry sector, for example IT, or any grouping with similar characteristics. Arrangements are then tailor-made to meet the needs of that specific group.
Benefits include a higher free cover limit – not normally available to smaller companies – and a straightforward rate structure.
In the UK, SLFoC is the third-largest provider of group life cover and the fourth-largest provider of group income protection insurance.
SLFoC managing director of group insurance Paul Davies said: “IFAs need to be able to provide their small and large clients with top-quality products, and through SLFoC’s new umbrella arrangements IFAs are now able to do this with the minimum amount of fuss.”