John Lamb Hill Oldridge launches a Renewal and Valuation Service for life insurances
LONDON, 13th September 2023
John Lamb Hill Oldridge is delighted to announce the launch of its Renewal and Valuation Service for life insurance policies.
Clients, Trustees and Advisers face a myriad of issues where they are looking at the insurance policies held by their clients, particularly where the client holds pre 2013 policies encompassing a range of different options and often having underlying investments. Among the issues facing clients/trustees/advisers are:
- Annual schedules of cover not produced
- Regular reviews not carried out
- Changes in client circumstances not taken into account
- Changes in trusts/trustees not reflected in insurer records
- Renewal and conversion options are misunderstood or missed and not costed against current market rates
- Indexation options are misunderstood
- Sufficiency of cover not regularly reviewed against liabilities
- Appropriateness of cover in the light of current market alternatives not researched
- Termination dates of cover not considered
- Data required for 10 yearly periodic charge in relevant property trusts not readily available
- Death claims not effectively handled
Paula Steele, director of John Lamb Hill Oldridge commented “We find that insurers have lost staff skills and expertise in dealing with their legacy policies, and many advisers no longer have staff competent to deal with these historic policies. The John Lamb Hill Oldridge team has provided this renewal and valuation service for many years for its own clients and has dedicated staff dealing with these matters. We are delighted to expand our service to a wider audience”.
For more information please contact us on 020 7633 2222 or at [email protected].
About John Lamb Hill Oldridge
Founded in 1959, we are considered to be the UK’s foremost specialist protection adviser for high profile and high net worth individuals. Our adviser team has over 100 years of combined experience which means that we are trusted by other professionals to help them navigate the most complex planning scenarios. We have a deep understanding of the insurance market and how insurer and reinsurance treaties are structured. This knowledge has allowed us to place some of the biggest protection policies in the UK and abroad, always guaranteeing the best terms for clients.
Other Insights
‘John Lamb Hill Oldridge introduces a specialist team to support you in arranging insurance-based investment products for high-net-worth clients with global assets’ by Jacob Fay
Offshore bonds aka PPLI aka Insurance based investment products John Lamb Hill Oldridge offers advice and intermediation (placement) and ongoing servicing for offshore bonds and is fully regulated to give this advice in the UK. [...]
‘Late summer snapshot: The life insurance market’ by Holly Hill
Associate Director Holly Hill provides an overview of the UK and international life insurance market, detailing how demand and capacity have changed in recent months and the impact this has had on underwriting. Demand We [...]
‘Gifting before the budget’ by Paula Steele published in IFA Magazine
Many clients are concerned that there may be changes to capital gains tax and Inheritance tax in the Budget on 30th October and they may well be right! In order to potentially avoid these potential tax changes many clients are [...]