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There main business is advising corporations on the insurance of enormous industrial and business risks - ships, factories, jumbo jets and so on. But they also have subsidiary companies engaged in giving advice on life insurance. Some of this advice is in the form of "financial planning" - overall financial advice for wealthier people in which life insurance often plays the major part. But the large firms also have life insurance broking operations which will advise on almost any scale. In between the two categories already mentioned, there is another, consisting of brokers who have developed a specialisation in what is usually termed "life and pension" business.

Often this has grown up out of a general insurance broking business and is carried out alongside it. Such firms vary in size but their abilities in life and pension business are usually well above those of the High Street corner broker specialising in cheap motor insurance. They also often rely on other professional advisers such as solicitors and accountants for the introduction of much of their business.

 

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