Income Protection: Cinderella prepares for the ball

Johanna Gornitzki: To kick off today's debate, I thought we could look at why income protection (IP) is punching below its weight. What are the main problems with the cover? Nick Kirwan: In November last year, at the Association of British Insurers' (ABI) IP meeting, we established there were five main areas that need to be looked at. Firstly, we need to do more to raise awareness of the product, both with intermediaries and consumers. We also need to find a way of simplifying the transactional side of IP. The product is very complex and diverse, which means it is diff...