The overall level of economic waste, currently £109 bn per year , from long term disability and short term sickness absence is unacceptable and is damaging for our economy and society writes John Ritchie.
Only 1 in 10 of economically active people in the UK has sick pay insurance in addition to state provision. This is a major market failure. A radical shift in government and insurance industry thinking is needed. Before Auto Enrolment to Workplace Pensions we had roughly 50% of the workforce with no meaningful savings for their old age in addition to state provision. In other words 50% non participation in ‘pensions'. That was deemed a market failure and there was a consensus that...
British Friendly has introduced an online Adviser Toolkit to encourage income protection sales.
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.