Aegon joins Seven Families

clock • 2 min read

Aegon has become the latest provider to pledge support to the Seven Families campaign.

The campaign was launched in May 2014 to raise awareness of the impact on families of long term illness or disability.

Seven families which did not have income protection before being affected by either a long term illness or disability will be given pay-outs they would have had if they were insured, to highlight how income protection can help families.

The project itself is due to launch next week and has seen widespread support across the industry, having been organised by the income protection task force.

Dougy Grant, protection director at Aegon UK, said: "We are delighted to be supporting this initiative to bring the value and importance of income protection to life by getting people to understand the benefits and peace of mind it could offer.

"Income is the foundation to all financial planning and should be the first thing advisers talk to their clients about. Auto-enrolment is helping to ensure that everyone is saving into a pension in order to replace income at retirement, which is seen as crucial, yet the same attitude is still to be adopted for replacing income prior to retirement, which is just as important.

"These conversations about income replacement both pre and post retirement should be embedded in all advice and play a key part in Aegon's mission to get the UK ready for retirement."

He concluded: "As a provider we play a pivotal role in growing the income protection market through investment to create consumer awareness, so that advisers have innovative products to offer their clients and will feel compelled to do so."

Peter Le Beau, chairman of the Income Protection Task Force, said: "It is fantastic news that Aegon has pledged its support to the campaign. The project is due to launch next week and to have so much widespread support from across the industry, including consumer groups and intermediary firms is excellent."

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