Buyer beware

It is as predictable as the seasons, but ask anyone in the protection industry why income protection (IP) does not sell and the same answers just keep on coming. The product is too complicated and there is no common occupational database across the industry, meaning customers often get inaccurate quotations. There is also no standard approach as to whether state benefits or other payments should be taken into account in the income calculations. And, unlike critical illness cover, where the policy will pay out in full if the policyholder suffers one of a clearly defined list of illnesses, wi...