Income Protection Task Force takes to the road

This summer, the Income Protection Task Force is going to take the message to hundreds of advisers around the country. The objectives are to

• Demonstrate where income protection sits in the protection hierarchy, covering background and the need for the product
• Show how best to sell income protection ethically, profitably and in a compliant manner
• Show advisers how they can reduce time spent on submission and underwriting income protection

Research has consistently shown that many advisers do not fully understand the causes and nature of long term illness and disability. Perhaps the critical illness marketeers have been too successful. It is also clear that many doubt that income protection can be sold profitably - it is not so much that remuneration is too little, but that the process of sales and getting business on the books is too long and, therefore costly. The two other reasons commonly quoted are that clients don't perceive the need for the product, indicating that, in truth, the adviser doesn't appreciate the need, and the last gasp of the optimist, the State will provide. It won't, of course.

The programme will be piloted with Savills in London in June/July, and then rolled out to advisers across the country. If you are interested in attending one of these sessions or arranging one for your colleagues, please get in touch.

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