Income Protection

Scottish Provident has offered an additional grace period to its pipeline plans for last minute gender-specific applications.

Disability and illness is to blame for two in five unemployed 50 to 60-year-olds, MetLife has reported.

There appears to be confusion among consumers, some financial advisers and in particular claims chasing companies, when it comes to payment protection insurance (PPI) and income protection (IP).

Carol Sergeant has suggested the proposed income replacement product will not be included in the first phase of the proposed simple products, the Income Protection Task Force (IPTF) has stated following a meeting with the review's chair.

The bill for benefit fraud bill has dropped but more action is still needed, the minister for welfare reform said today.

The current picture for protection sales is mixed as the industry treads the last month to gender neutralisation.

A steering group chaired by the Association of British Insurers (ABI) and the Treasury is currently drafting a report on under-protection.

The challenge for income protection continues. The current focus for most providers is currently on the legislative issues of Solvency II, RDR and gender neutral pricing. These issues are large and distracting from product development.

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