Renewal and Valuation

Trustees and advisers face a myriad of issues when reviewing the insurance policies held by their clients, particularly where the client holds pre-2013 policies with a range of different options and underlying investments. 

These issues include:

• 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

Our Renewal and Valuation Service provides a solution to all these issues and the work is covered within the standard renewal commission terms offered by insurers, meaning that there are no ongoing charges to the clients or trustees.

We have an established and experienced service which has been in place for all of our existing clients for over 30 years providing them with:

• Annual reminders for each individual policy, sent a month in advance of the premium collection date
• Annual reminders about policy options including indexation
• An accurate valuation of all policies in their protection portfolio which highlights all relevant policy data as well as indicating the current and historic trustee position
• An opportunity to review and discuss their protection arrangements with their trustees/advisers and John Lamb Hill Oldridge if required

Founded in 1959, we are considered to be the UK’s leading protection broker 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.