Armchair Critic: This is the best collective effort in protection I've seen

This is the best collective effort in protection I've seen

clock

Professional Adviser's resident Armchair critic has nothing but praise for the Income Protection Task Force's Seven Families initiative, but can advisers take advantage?

Financial planning textbooks tell us protection comes first; sales figures tell us it doesn't. In fact, protection sales are getting worse. We can't quite blame regulation. The RDR left protection pretty much untouched, though the general shift from transaction or product-based advisory practices to relationship models does tend to mean that investment-related services attract most of the interest. Take income protection (IP) as an example. Less than 10% of the UK population have it. That is absurd. Of the other 90%, maybe 10% might not need it; they might have private wealth, a se...

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