The Exeter is offering two months of free income protection cover to all new applicants.
This limited special offer applies to the mutual’s full range of income protection plans; Pure Protection, Income One and Bills & Things.
Karen Woodley, head of sales at The Exeter, said with the uncertainty currently affecting the UK following the Brexit vote, protection insurance may not be at the top of every consumer’s priority list.
She said: “With this offer, we want to reassure advisers that one thing they can be certain of is The Exeter’s commitment to helping them protect more clients.
“Income protection should be the bedrock of financial planning, but suffers from a general lack of consumer awareness,” she continued, adding: “This offer will give advisers another great reason to discuss income protection with their clients, whilst making cover against ill health even more affordable.”
At the end of March, Exeter Family Friendly revealed it paid 94 per cent of income protection claims in 2015, the same figure as in 2014.
IFA Verdict
Alan Lakey, founder of CI Expert, said it seems the firm is using the marketing techniques used by non-financial services businesses.
He said: “I hope it works, frankly it is a disgrace that income protection is so undersold and it is an indictment of the poor overview that the government gives to such a clearly beneficial product.
“The saving to the state and NHS would be massive if the take-up of income protection plans could be extended,” he continued, adding: “It is certainly a good reason for advisers to contact clients, almost like buy now pay later offers.”
peter.walker@ft.com
