If you asked your client to name their biggest asset, what would they say? Their house?
If you think about it, their house is actually their biggest liability (assuming they have a mortgage). And believe it or not, your client’s income is actually their biggest asset.
Take a typical 30-year-old earning £27,000 a year and retiring at 68 (the earliest they’ll be able to claim their state pension). They’ll earn over £1 million over their working life.
According to the Risk Reality Calculator there’s a 35% chance this client will be off work sick for two months or more before retiring. Receiving their regular income will be essential to protect their biggest asset.
At LV=, we recognise IP can be a harder sell compared to other types of insurance, particularly if you don’t recommend it often.
To recognise this, we’re paying extra commission all LV= IP policies submitted until Friday 24 August 2018.
Commission available and qualifying products
We’ll pay you up to 35% extra in API commission on new LV= FPP Income Protection and
FPP Personal Sick Pay applications submitted up until Friday 24 August. The actual increase depends on the product you’re recommending and how we’ve agreed to pay your commission.
