Remember, IP insurance will support your client financially if they cannot work because of injury or illness, but not if they are made unemployed.
Policies have no cash-in value, and if the policyholder stops paying the premiums, the cover stops and they will get nothing back.
Your client has made a claim, so what is next? Many providers now offer additional support and expertise to help claimants get on the road to recovery and back to work, such as:
- Vocational rehabilitation consultants – usually certified disability management professionals who will visit your client at home to get a detailed understanding of the support and services they need.
- Case managers who are trained in counselling and work rehabilitation, who offer advice and emotional support.
- Specialist clinicians, including doctors, mental health nurses, specialist physiotherapists, occupational therapists, occupational health advisers and nurse specialists in mental health, cardiology, oncology, orthopaedics, rheumatology, midwifery and women’s health experts.
Taking advantage of the additional support available is really beneficial for clients especially at a time when waiting lists for treatment is at an all-time high. IP does not have to be expensive and you can usually tailor the cover to meet your client’s budget if you need to.
Richard Cooper is a business development manager at The London Institute of Banking & Finance