Betting your life on it.

Investors Chronicle, November, 2006

When it comes to life assurance products, we are spoilt for choice these days. Insurance, self-invested pension plans and other savings schemes are all on offer down at your local high-street banks. Alternatively, if you're seriously wealthy, then there are specialised financial boutiques to cater for your protection needs. But all this poses a significant challenge to the major life assurers.

And it's not the only problem that they face. Lord Turner's report on the pensions system has recommended that pensions should become more affordable. So it has made assumptions about commission costs that would make it hard for life assurers to compete: the report envisages a system that operates on commission of no more than 0.3 per cent. Life assurers, however, would...

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