IP disability definitions need overhaul - Protection Review

clock

Subscribers to the Protection Review believe the industry should address perceived problems with Activities of Daily living (ADL) & Activities of Daily Working (ADW) definitions for income protection policies.

Visitors to the Protection Review web site were polled on their opinion, with just 17% saying that no change is necessary. Nearly half (42%) said the definitions should be scrapped with the remainder agreeing but adding that choice was important. Kevin Carr, chief executive of the Protection Review, commented: "There is a growing concern among brokers that this is an issue that needs addressing. There have been various solutions over the years, some feasible some not. What we need to do is get the key people in this industry together and to get a consensus on this issue."

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income Protection

Tom Baigrie: 'Insurers and distributors are failing to market IP'

'We need to pick up the pace'

Tom Baigrie
clock 16 November 2020 • 3 min read

L&G paid out almost £300m for group protection in 2018

Rehabilitation services

Adam Saville
clock 09 May 2019 • 1 min read

'One in five' UK businesses lack expertise to manage absence

Zurich research

Adam Saville
clock 04 February 2019 • 1 min read