Starting Meaningful Income Protection Conversations
For adviser use only. Not approved for use with customers.
Complicated, time consuming, expensive. These are just some of the misconceptions that are sometimes wrongly associated with income protection. Join us over the next few weeks as we bust the IP myths and provide you with the information you need to boost your IP knowledge and skills.
According to the Aviva Protecting our Families report, currently only 13% of families with dependant children have income protection, yet 43% say an absence from work of 3 months or less would leave them struggling financially. This protection deficit represents an opportunity for you to talk to your clients about how they would protect their income if they became unable to work due to illness or injury.
We know that you’re busy, which is why, in the coming weeks we’ll be taking a broad range of insights and distilling these into bitesize chunks that you can absorb quickly. This will enable you to build meaningful conversations with your clients and to help you understand how income protection can offer a lifeline during a time when families face significant financial risks.
We’ll cover key topics such as:
- The importance of taking out an income protection policy
- Facts, figures and focus points – how you can engage clients in income protection conversations
- What you need to know about the income protection market
- How our Income Protection+ proposition can help you and your clients
Income protection at Aviva isn’t about lengthy application forms and poor claims pay-out rates. We’ll show you how straight forward and seamless it really can be through harnessing digital solutions, such as iGPR™ and interactive underwriting, to help make managing protection as simple as possible. All this means you can spend more time understanding and meeting your clients’ individual needs. As for claims, in 2015 we paid over 92% of individual income protection claims.
The Office of National Statistics predicted that in 2016 an estimated 137.3 million working days were lost to sickness or injury in the UK. This will be made up from a combination of minor conditions and longer term illnesses with our average income protection claim, still in payment at the end of 2015, lasting for 108 months.
As an adviser, you know that income protection can help financially protect against unforeseen events. However, the ‘it won’t happen to me’ mentality can make it difficult to convince clients of the benefits.
One lady that truly understands the benefits of income protection is Inger Wallis. Why not grab a coffee and watch her story in a four minute video. It really puts into perspective why income protection shouldn’t be overlooked and the real value that it can offer.
You can find out more about income protection at Aviva on our dedicated product page. If you really want to give your IP skills a boost though, be sure to follow us on LinkedIn or Twitter for real time content.
