Group Protection

PROTECTION WATCH

An employer may terminate the contract of an ill worker receiving claiming protection insurance benefits, a tribunal ruling confirms.

The aging workforce is causing a tightening in insurer group terms, a group risk specialist has said.

Income protection needs to strip out the state benefits element if the product is to move upwards, a consultancy firm has stated.

The Income Protection Task Force has planned to launch a consumer charter as part of a three-point plan for income protection.

One third (32%) of the UK's working population has called in sick to work due to stress, 52% of those in the last year.

So we heard from British Friendly recently that income protection (IP) sales are not benefiting from the gender change opportunity. Advisers have reported similar, but that life is tracking the opposite trend.

Educating consumers on the importance of income protection is a job for government and industry-led campaigns, advisers have said.

Ellipse has launched its second group income protection product - this time focusing on bonuses for absence reduction and early notifications.

Protection advisers will need to be clear when building simplified advice-style propositions to address basic client needs, an adviser firm has warned.