Paradigm Protect, the directly authorised protection proposition linked to Paradigm Mortgage Services and Paradigm Partners, has announced the addition of LV= to its Elite Choice Protection panel.
LV= offers a range of life insurance products to support customers who require protection. Its products include life insurance, critical illness, business protection and income protection.
Paradigm Protect said the decision to add LV= to the Elite Choice Panel was based upon member feedback. LV= offers support, training and development, and technical guidance to the intermediary community.
Paradigm Protect runs two panels, Whole of Market and the Elite Choice. The Elite Choice panel offers member firms enhanced terms and commissions and is currently comprised of seven providers.
Mike Allison, Paradigm’s head of protection, said: “We listen closely to what Paradigm member firms tell us and look to act on their feedback which is why we have added LV= to our Elite Choice panel.
“LV= is a huge brand in the UK protection market and has grown in to one of the largest protection players in recent years. The product innovation and focus on customer support has led to LV= winning a number of industry awards.
“We have been working closely with the LV= team over the past few months to ensure Paradigm members are offered the support commensurate with their appointment to the Elite Choice panel. Paradigm Protect members will benefit from that support and, crucially to us, will receive amongst the best terms in the market via its most competitive premium rates.
“Increasingly we have noticed a number of distributors increasing the premium rates paid by clients in order to offer higher commissions to advisers, which makes them less competitive when offering their propositions to customers. We know Paradigm Protect members are very concerned about this and are taking this opportunity to reiterate that Paradigm does not, and will not, introduce loaded premiums in order to attract higher commission terms.”