Advisers want industry focus on IP reform

Tom Baigrie, managing director of Baigrie Davies, says income protection (IP) needs to be sorted out, but the industry has until now focused on critical illness (CI) working parties instead. He states: “I wish the industry could see beyond last year’s sales of CI to a product that genuinely meets consumers’ needs. Consumers need something to protect them against the disaster of losing their income.” Alan Lakey, partner at Highclere Financial Services, says the problem is the people who need IP most are denied own occupation cover, which he believes is essential to ensuring the policy fi...