It is well known that a protection gap exists in the UK – a serious issue when you consider that, for many, a prolonged absence from work through ill health would result in a significant financial shortfall that could lead to difficulty in paying essentials such as the mortgage or rent, utility bills or food.
Advisers are the front line in tackling the protection gap and providers should support those who sell their products by making the process of underwriting income protection contracts as transparent as possible.
Underwriting income protection contracts differs from critical illness cover or life insurance because conditions which are generally irrelevant to the critical illness or life insurance underwriter might take on greater significance for income protection. A good example of this is an applicant with a history of back problems – unlikely to be of great concern to a life insurer but a red flag for an income protection provider as it could lead to a long-term absence from work and a claim being made.
Talk direct to an Underwriter – our Online Chat Tool means you can talk directly to an Underwriter whenever you need to. Alternatively, you can call the Team on 01285 652 492 ext. 8300 or email underwriting@cirencester-friendly.co.uk
