The ABI is considering proposing a protection scheme in which moderate-to-high earners are "encouraged" to buy their own protection rather than rely on state support.
The embryo idea, which the ABI says could be delivered via the Government in a similar way to NEST, would see households earning over £25,000, for example, incentivised to protect themselves. ABI assistant director of health and protection Nick Kirwan says the money saved would be used to better protect low earners. A NEST-style scheme of auto-enrolment for protection is also being considered, though all its ideas are "a long way off being ABI policy", Kirwan says. The ABI says the scheme would consider state support sufficient for a household income of about £25,000. But it a...
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