Protection Update 10th September 2021

Hello everyone and welcome to this protection update – Friday 10th September 2021

There’s quite a lot starting to happen in the protection industry as we gear up for the final quarter of the year so let’s get to it.

IPTF – Income Protection Focus week (20th to 24th September)

I don’t know if you’ve come across the IPTF before – they are the Income Protection Task Force who have a simple objective which is to encourage more people to consider what happens if they lose their income.

Very often, Income Protection would be a fabulous solution to that problem; if only people had that type of cover.

So, in a weeks’ time, the IPTF are launching ‘Income Protection Focus Week’ and the aim of this is to raise awareness amongst advisers looking to learn more about income protection and the value it can provide for their clients.

There will be a session held online every day at 12noon until 1pm.

  • Monday 20th (day 1) will be an introductory session called ‘the importance of income protection’. So if Income Protection doesn’t form a major part of your advice and recommendation; that’s probably a good session to go to.

 

  • Tuesday 21st (day 2) is probably the most relevant day for advisers in our network because the session is entitled “Income Protection and Mortgages”. And, without wanting to put you off attending; I will be delivering the key note speech with a session called “Why mortgage clients need you to talk to them about Income Protection”.  It’s something a bit different, but it’s straight to the point and should be fun!

 

  • Wednesday 22nd (day 3) is called “Income Protection for Wealth Advisers”

 

  • Thursday 23rd (day 4) should be a good session called “Underwriting and Claims – Myth busting and sharing experiences”

 

  • And then the final day, Friday 24th is a call-to-action session called “Time for Action; pledge time and next steps”

Income Protection is a protection advice area that many advisers do struggle with for a variety of reasons and we see that reflected in the amount of people who actually buy income protection policies each year when compared to the massive amounts of Life cover and Critical Illness Cover.

I think this is a really great initiative from the IPTF and it would be great if you could support them and perhaps look to make your own pledge about what you can do differently within your sales process.

I’ve added the registration link to this protection update.

When you click on the link, you will be able to select whichever dates you wish to attend.

Register for IPTF IP Week 

Cirencester adds health benefits for Income Protection

Now I often use a silly analogy that our protection industry reminds me of an arms race.

What do I mean by that?

Well, protection products are constantly being upgraded and that’s usually for the better.  When we see a provider make a certain change to their proposition; that sparks other into action which, typically, results in better client outcomes.

Well, this week, we’ve seen Cirencester Friendly adding health benefits for Income Protection policyholders with a service called ‘YourHalo’.

Let me read from their press release:

It offers members, access to advice and support from healthcare professionals, and the service will be offered via appointments that can be booked online or over the phone, with these sessions delivered remotely.  And for this, there is no additional cost.

Policyholders will be able to access the service at any time during the lifetime of their membership.

YourHalo’s specialists include physiotherapists, sports therapists, nutritionists, fitness specialists and sleep experts.

Members can also use this service to receive a biopsychosocial assessment to gain insights over their health, including biological, psychological and social factors. 

 

Now the great news is that YourHalo is available for both new and existing clients.

That gives you a great reason to get back in touch with your clients who have Cirencester policies and tell them about this great new added value benefit.

I’ve added a link to below where you can get all the detail about what’s available along with the contact numbers if you need any help.

Cirencester YourHalo support services >> 

 

Better Sick Pay Schemes

And one more thing, on the subject of Income Protection; we’re going to turn our attention away from Trusts at the end of the month towards Income Protection with a new campaign called “Better Sick Pay Schemes”.

We’ll kick this off (after the IPTF launch) and we’re going to be looking at lots of sales ideas to help put Income Protection firmly on the agenda.

We will be running some online workshops that you will now be able to register for.

These are:

These will all start at 10am and run until 12noon and we’ve invited various providers to support these workshops, plus, there will also be lots of other content related to the campaign each Friday via my protection update.

And one more thing, these will be CPD events, so just click on the link in this week’s protection update and you can start registering for these events!

This weeks Protection Insight Podcast – How to write a life policy into Trust with AIG

We’re nearly at the end of our series of How to write a protection policy into Trust podcasts and this week we’re going to take a look at the AIG process.

AIG actually have a super slick online process that you can use for new protection policies, but for existing policies, already in force; you’ll need to use the discretionary trust deed so if you tune into this weeks protection insight podcast, we’ll show you how to find the correct trust form, how to complete it, what to look for along the way and finally where to send it.

There’s a link to this latest protection insight podcast with AIG below, but remember you’ll also find all the previous podcasts in chronological order which you can use for reference.

Next week, we will finish off this series with a look at the Legal and General process using their ‘Digital’ trust deed.  It’s very different.  Super straightforward and definitely one not to miss if you want to write protection policies into Trust with L&G.

So that’s it for another protection update.

Protection Insight Podcast – How to write a protection policy into Trust with AIG

Have a great weekend everyone and I’ll see you soon!