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Protection Advisers Must Demonstrate Added Value To Compete With Internet Distributors

A large number of price driven protection is bought through internet distributors AEGON highlights top tips to help protection advisers differentiate themselves and win business

FOR IMMEDIATE RELEASE

 
PRLog (Press Release) - Apr. 14, 2010 - With an ever increasing presence of price driven protection products bought and sold through the internet, AEGON is highlighting the importance of adviser firms being able to demonstrate they can add extra value in the advice they provide customers.



AEGON believes advisers in the protection market have the skills required in order to add value in a way that can differentiate themselves from internet distributors.



Stephen Crosbie, Head of Proposition Management, Investments and Protection at AEGON said:



“The first thing advisers must do is to identify ways in which they can provide added value. If traditional protection advisers want to succeed, it is now time to stop competing on price alone.”



One way advisers can differentiate themselves is to leverage the flexibility of menu-based protection which cannot be accessed through the internet, or enhancing their offering to help their clients mitigate the risk of inheritance tax through the use of trust planning.



Another route that the internet distributors cannot compete with advisers is through the ever increasing importance of businesses adequately protecting themselves against the unexpected happening to a key person or shareholder in the company.



Crosbie continues, “There is a large swathe of the individual protection market that remains untapped and that protection advisers have a competitive edge over internet distributors. AEGON will continue to help educate advisers on how they can successfully target these areas and win more business.”





- Ends –













Further information

Kevin Brown                                                        

Media Relations Manager                            

AEGON                                                                      

0131 5492859/ 07740 897282              



Notes to Editors





·                  In the UK AEGON offers pensions, life insurance, asset management and financial advice to around 2 million customers. AEGON UK has assets under administration of £56bn billion and employs approximately 4,900 staff.



·                  AEGON is one of the world’s leading insurance groups with approximately 30 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating assets totalled EUR 361 billion at December 31, 2009.

# # #

· In the UK AEGON offers pensions, life insurance, asset management and financial advice to around 2 million customers. AEGON UK has assets under administration of £56bn billion and employs approximately 4,900 staff.



· AEGON is one of the world’s leading insurance groups with approximately 30 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating assets totalled EUR 361 billion at December 31, 2009.

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