Protection  

Support hits £340,000 for Seven Families campaign

Seventeen companies have now signed up to the Seven Families Campaign and will be committing £20,000 each to pay the seven families’ incomes.

Launched in May, the project aims to illustrate the benefits of income protection by providing a monthly income for seven families whose main breadwinner is unable to work due to illness or injury.

The 17 companies who have confirmed their support include Ageas Protect, Aviva, British Friendly, Canada Life, Cardif Pinnacle, Ellipse, Exeter Friendly, Friends Life, Hannover Re UK Life, LV, Pacific Life Re, PruProtect, RGA, Scor, Scottish Widows, Unum and Zurich.

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The Income Protection Task Force, who launched the campaign, also confirmed that it has reached the required level of funding to proceed and remains on course to begin in September.

Peter Le Beau, IPTF chairman, said: “We are thrilled that the Seven Families idea will now become a reality. We have a wide range of companies supporting us and I would like to thank everyone who has been involved so far in helping to unite the industry for this project.

“We continue to welcome additional support and would ask any interested parties to contact us. A lot of hard work has already been done, but the real work starts now.”

The first feedback meeting for supporting companies takes place later in June, followed by the first planning workshop in July.

PruProtect’s head of account development Phil Jeynes urged providers to overcome cynicism around the awareness-raising campaign last month.