The UK is lagging behind the rest of the world when it comes to income protection, a recent study for Zurich by the Smith School of Enterprise and Environment at Oxford University has found.

The research (which you can read more about here) shows that not only are the UK second last in terms of how many people have income protection, but also in how many people would consider buying it.

At The Exeter, we’re proud of the income protection plans we offer and the vital, life changing cover they have provided our members over the years.

In our view, income protection should be the bedrock of financial advice and the FCA clearly agree, recently naming income protection as one of the top 4 insurances people need, alongside home contents, buildings and motor insurance. Read the story here.

So what’s holding this crucial product back?

A common myth – “it won’t happen to me”

We know that it’s too easy for your clients to think ‘it won’t happen to me’. So, to help you answer the “Why income protection?” question, here are a few stats that may come as a surprise to many of them:

2.2 million people of working age will be off work for at least 6 months due to ill health

(Cover Magazine 2015)

140 million working days are lost due to sickness absence every year

(Gov.uk, 2011)

300,000 people fall out of work each year and into the welfare system because of health-related issues

(Gov.uk 2014)

You can also show your clients our real-life claim stories from David and Colin. Income protection from The Exeter prevented these customers from falling into debt as a result of their injuries and these stories help bring the value of income protection to life.

Get in touch

Our experts are ready to speak to you to help your income protection business grow. Give us a call on 0300 123 3207 or email us at sales@the-exeter.com

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