Jo Miller, managing director, the Income Protection Task Force (IPTF) and Warren O'Connell, head of business development - sourcing, Iress, discuss trends in income protection (IP) buying habits, which show increasing popularity for multi-benefit policies.
The 2024 market data makes one thing clear: multi-benefit, or "menu plan," protection is no longer just a niche approach, it's becoming a mainstream way for clients to secure their financial futures. In fact, IP was included in 32% of all multi-benefit applications last year, a sign that more advisers are embedding IP into wider conversations about financial resilience. The momentum is undeniable. Menu plan applications that included IP rose by 42% compared to 2023, suggesting not just stronger client interest but also a meaningful shift in how advisers are framing protection advice. ...
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