Income Protection  

How income protection has 'held its value'

  • Explain impact of coronavirus on income protection
  • Explain the value of income protection
  • Explain the value of deferred periods
CPD
Approx.30min

So, while for new applications it has been necessary to take steps to manage the risk that Coronavirus presents, the insurers have taken a proportionate response and risen to the challenge of providing cover where they can and supporting existing customers.

Even in these difficult times, income protection insurance retains its value and remains the main plank of protection planning.

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Ben Heffer is an insight Analyst at Defaqto 

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. True or false. When setting up IP cover for clients, one of the key decisions to be made is what deferred period to choose.

  2. Why is it important that advisers ask their clients to find out the details of their employer’s sick pay scheme, if any, before they meet them?

  3. True or false. According to Defaqto data, much IP business is written either on a 14 week or 25 week basis.

  4. Why would an adviser recommend a longer deferred period?

  5. According to Defaqto research, which add-on services do advisers say add value?

  6. According to Ben Heffer, what is more ideal for a self-employed individual?

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You should now know…

  • Explain impact of coronavirus on income protection
  • Explain the value of income protection
  • Explain the value of deferred periods

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