Aegon’s birthday move

Aegon’s birthday move

Aegon has announced a protection benefits sale to mark its fifteenth birthday in the UK protection market.

The provider is offering up to 10 per cent off level and indexing life protection with benefit amounts of £300,000 plus gift inter vivos and family income benefit, all of which will be available until 21 February.

Aegon UK said that since its launch it has protected more than 750,000 families and businesses, and paid out more than £800m to customers.

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Dougy Grant, protection director at Aegon , said: “Aegon has always been well regarded for its expertise in the business protection and high net-worth space.

“Since our launch in 2001 we have helped advisers navigate the complexities of the market and successfully win and retain clients.

“From innovative solutions, such as our business toolkit – a first of its kind – in 2009, to our unique portability option for relevant life, we have helped define and grow the market.

“It is fantastic to reach a significant milestone and to help celebrate our fifteenth anniversary we’re running a birthday offer as a way of thanking our supporters.

“We’ll also continue to improve our proposition and the imminent introduction of a digital document service will create a quicker and more engaging experience for advisers doing business with Aegon.”

IFA verdict

Craig Palfrey, managing director of Cardiff-based Penguin Wealth, said: “You set up your clients for protection when they need it.

“My gut feeling is if Aegon marketed this externally, it would trigger someone who is not taking advice to go and get it.

“But I’ve not seen an Aegon advert, and the benefit to existing IFAs is minimal. This is suddenly coming up. Why not make this price forever? Otherwise it is just a gimmick.”