Commenting on the idea, Karin said: “I had been reading the latest batch of industry research telling us lots of things we already know about how people don’t care about insurance, don’t save enough etc. We had been trying for years to think more about what influences the decisions people make and had started thinking about how we could show the effects of an IP policy in action.
“The main idea was to let the people receiving the benefits do the talking rather than the industry. We would act as facilitators, rather than educators, and would treat people like grown-ups, letting them see the reality and make their own minds up, without pushing products.”
What does it mean for advisers?
The most important thing to know first of all is that the campaign will happen.
Unlike several other industry initiatives over the years that for one reason or another did not quite make it to the finishing line, the campaign already has enough financial support to ensure that it will happen, which is great news for the public – and for advisers.
The campaign will seek to utilise a range of media to reach as wide an audience as possible including broadcast media, social media, PR and more.
The families will be interviewed during the course of the year and the campaign will incorporate a range of communications, tools, video content, press coverage and social media activity aimed at reaching as many people as possible.
Supporting offices will also be involved in the communications process and the tools and content can be used by advisers as independent material to introduce the subject of protection into the conversation and to help persuade clients about the importance of financial protection. Indeed, we hope that the industry will see an increase in public awareness which drives an increase in consumer interest.
Financial Adviser Roy McLoughlin of Master Adviser said: “For many people income protection should lie at the very heart of holistic financial advice. The false assumption that the state will look after the majority in the event of long term illness can be solved with comprehensive advice. The awareness that this campaign will undoubtedly bring should be welcomed by advisers.”
We know that some advisers don’t like talking about protection – and likewise most clients are not too excited about it either. But if we can give advisers a better way of raising the issues, as well as helping to raise consumer awareness, then it is more than worthwhile.
In fact, we already know a few advisers who are using the concept, supported by press coverage, to talk about protection with their clients now.
Action
