Standard Life will No Longer Sell Individual Life Insurance and Critical Illness Policies

Insurance broker
Standard Life will not sell
individual life insurance
in the new year.

Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies.

However, the company will still serve those holding existing policies and applications received right up until December 31 and will still own that block of business after January 1. Its staff will continue to service these policies and give clients the opportunity to increase coverage, add coverage, and convert coverage. This includes converting group life insurance policies to individual ones.

Instead of continuing to sell individual life insurance, Standard Life will continue to focus on retail investments, including Standard Life Mutual Funds, group savings, and retirement plans, and group benefits and disability management, as it has since 2005.

Standard Life  already started to enhance its offering to individual investors. Its new Ideal Term Funds are available and provide a competitive offer for savings and retirement-income clients.

Earlier this year, it continued to enhance its Ideal Segregated Funds –Signature Series product by adding the Ideal Income Series for a lifetime guaranteed source of income, new non-affiliated fund managers, and socially responsible investment funds.

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