Protection  

Seven Families launches financial vulnerability test

Seven Families launches financial vulnerability test

The Seven Families charity project has launched a financial vulnerability test for the public to highlight the need for income protection.

The 17-question online quiz recommends appropriate action on whether people need to review their situation, speak to their employer about benefits, or are generally OK.

Multiple choice questions cover who the key earner in the household is, dependents, social behaviour such as smoking and drinking, plus whether people have debt and savings.

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Speaking at the recent Seven Families Conference held in London, Income Protection Task Force chairman Peter Le Beau also confirmed the end date for the Seven Families project, which will be 31 July.

This date coincides with the last payment to the seventh family, at which point Seven Families will carry out extensive consumer and industry research to measure the overall impact of the project.

The Seven Families project, in partnership with Disability Rights UK and the Income Protection Task Force, provides a tax-free income for one year to Seven Families across the UK who have lost an income through ill health or an accident.

It also gives the families access to advice from a range of volunteering IFAs, to help with basic finances and budgeting, alongside the opportunity to benefit from independent living, rehabilitation and emotional support services.

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Michael Aldridge, innovation director at London & Country, stated far too many people avoid facing up to the financial implications of becoming ill and being unable to work, in many instances because it is too uncomfortable to consider.

peter.walker@ft.com