Standard Life single-tie with Summit

Standard Life has entered into a single-tie arrangement with Summit Financial Services, who specialise in arranging life cover, critical illness and income protection cover for climbers, mountaineers, and hill walkers.

The single-tie is in relation to life insurance, where Standard Life has developed a bespoke underwriting approach which recognises that the majority of climbers can be accepted on standard terms for climbing in the UK. A special application form has also been designed, making it easier for clients of Summit Financial Services to apply for cover.

The arrangement will be promoted to climbers through the established activity of Summit Financial Services with the British Mountaineering Council.

Mick James, Protection Marketing Manager, Standard Life Assurance Limited, said: “Climbers have had problems in the past securing competitive life insurance in the UK. The single-tie with Summit has enabled us to fully understand the risks involved in insuring this group of customers. Recognising that climbers have special requirements which can be treated sensibly from an underwriting perspective means we can offer standard terms and good value cover.”

For every case sold through the Summit single-tie until the end of 2007, Standard Life and Summit Financial Services will make a donation to the charity Community Action Nepal, which focuses on sustainable health and education projects in the region. To get the campaign off the ground, Standard Life has donated £1000 to the charity, which was accepted by Doug Scott CBE, Founder Member and Operations Director and the first British man to reach the summit of Everest in 1975.

Doug Scott of Community Action Nepal said: “We are delighted to see a large insurer taking a pragmatic view of the risks involved in mountaineering and their donations to CAN will certainly be put to good use in one of the poorest and yet most strikingly beautiful parts of the world.”

David Hallam of Summit Financial Services said: “The single tie was a natural progression of our relationship with Standard Life who have shared our vision and shown efficiency and common-sense. They acknowledge that climbing is a recognised sport undertaken by people who train to professional levels.”

“The new exclusive terms which we are able to offer give a fair deal that has not been available before in this niche part of the protection market, and should prove an attractive proposition for anyone taking to the hills.”