Matthews' plan to cut £2.3trn protection gap

In a keynote speech at the annual Protection Review Conference, Matthews says a model based on the Australian superannuation fund would thrive in the UK. Matthews says in Australia, employers pay $1 a week per employee for life cover, calling it a "cheap way of providing life cover on a falling scale". Cover starts at $60,000 for younger staff, he says, and reduces to $20,000 as staff get older. "An initiative like this could reduce the life protection gap by 20% with one piece of legislative change," Matthews says. "It's simple and we know it works. If Yvette Cooper, Secretary of...