It’s insurance nerd day!
It’s insurance nerd day! So our insurance nerd, Craig Bryce, takes a look at what’s adding value in the protection industry.
81% of Brits have no income protection in place! According to the latest State of the protection Nation report from Royal London, Britain is incredibly underprepared in the event of long-term sickness, accident or ill health.
But, as you are probably aware, income protection is now much more than just income protection. It can actually help prevent long-term sickness or injury, as well as get people back to work quicker should they have had time off. Many policies have additional benefits that people may be unaware of, and it’s our job to make them aware.
If someone’s ill but it’s not serious enough to stop them working, or someone has a sore back but can’t afford the physio, or even if someone’s had time off work but needs career counselling some income protection providers can help. Additional benefits of income protection include, among other things, physiotherapy and doctor’s appointments.
Some providers offer these benefits at any point in the policy lifetime. This means if someone is suffering from an injury or illness – that might not be severe enough for a claim – they would still be able to benefit. If someone needs physio or a doctor’s appointment to prevent their condition worsening, that’s okay, they’re covered.
This could ensure an injury or illness doesn’t progress into something severe enough to need time off work. And in a time where Brits are finding it increasingly difficult to get an appointment with the GP, these additional benefits are adding real value.
Join our award-winning Mortgage Network as an appointed representative, or become a member of our Mortgage Club, to start benefiting from our fantastic range of comprehensive services and support. Call the Broker Support Team on 0345 130 7446 (opt 1) to find out more.