For too long, income protection has lived in the shadows of life and critical illness cover. This is despite a quarter of UK adults saying they couldn’t survive financially if they were out of work for a month*.
The truth is there’s no better way of protecting your clients from the financial impact of illness than with income protection. Here are 5 reasons it’s worth fighting for:
- Income protection isn’t restricted by a list of illnesses
Income protection pays out on any physical and mental illness and injury which prevents your client from doing their specific job. So, unlike a critical illness policy, the cover is not restricted to a defined list of illnesses.
- Income protection can pay out for as long as your client is ill
Policies with a long-term claim period will pay out for as long as your client is too ill to work or until the end of the policy. With regular monthly payments there’s less risk of the money running out.
- Real advice makes income protection affordable
Your client has a choice of waiting periods and long-term or short-term claims periods so you can build a plan that’s right for their needs and their pocket – that’s real advice in action.
- Clients can claim again and again
Critical illness policies only pay the full benefit once. But with an income protection policy, your client can claim as many times as they need within the agreed term.
- It highlights your clients’ biggest risk
Including income protection in your protection conversations ensures you’re prioritising the biggest risk to your clients’ financial stability – being too ill to earn.