Your IndustryApr 8 2014

Guide to Selling Income Protection

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CPD
Approx.60min

    Guide to Selling Income Protection

      pfs-logo
      cisi-logo
      CPD
      Approx.60min
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      Introduction

      By Emma Ann Hughes
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      Protection is provided for the duration of the cover no matter how many claims are made - unless the client chooses to limit the benefit payment period.

      It is received wisdom that anyone who is working should consider how they would manage financially if they were unable to work and what options are available to them. Yet in spite of this, UK consumers are more likely to insure their pet than their income.

      Few advisers – or their clients – who sit down and calculate all of a person’s incomings and outgoings and each month weighed against savings pots, state support or family assistance could not spot a need for income protection.

      This guide looks at the different types of products available, assessing different policies, making the case for having income protection in place and calculating the amount of cover that is needed.

      Contributors to this guide were: Julie Higman, income protection product manager of Aviva; Dougy Grant, protection director of Aegon UK; Tom Conner, director at Drewberry Insurance; Kevin Russ, technical manager of Friends Life Individual Protection; Martin Sincup, income protection manager of LV; Peter Hamilton, head of retail propositions at Zurich; Emma Thomson, life office relationship director of LifeSearch; Mark Dennison, owner of LightBlue UK; and Kevin Carr, chief executive of Protection Review and managing director of Kevin Carr Consulting.

      This guide is sponsored by LV=. All editorial is independent.