Irish Life Financial Services will provide ongoing advisory services to Ulster Bank policyholders as the bank continues its exit from the Irish market.
The transfer, effective 31 July, relates to life insurance products, annuities, investment and protection policies written and continuing to be written by Irish Life Assurance, for which Ulster Bank acted as insurance agent for its customers.
As customer policies are already provided by Irish Life Assurance, the terms of the policies will not be affected in any way in this regard, the bank said.
Ulster Bank is writing to customers to inform them of this transfer, which includes the transfer of their personal data in connection with Ulster Bank’s advice, and to offer customers the opportunity to opt-out if they wish.
Customers will continue to receive annual correspondence directly from Irish Life Assurance in relation to their existing policy and their policies will continue to be serviced and administered by Irish Life Assurance until the policy maturity date.
Jane Howard, Chief Executive of Ulster Bank, said: “Today’s announcement represents a further step forward in our phased withdrawal from the Republic of Ireland and I am delighted that this transfer will provide these customers with a seamless process as we continue to offer their service Broadcast Irish Life.
“We will be in touch with customers shortly regarding this to ensure they are supported throughout the transfer.”
Comments are closed.