A leaflet designed to highlight the benefits of income protection (IP) when compared with critical i...
A leaflet designed to highlight the benefits of income protection (IP) when compared with critical illness (CI) cover is to be distributed to advisers by Scottish Equitable Protect.
Examples of claims ex- perience of the two products are outlined in the leaflet, which the provider hopes will be helpful to advisers when explaining the core differences between the two types of cover to clients.
The provider lists 30 claims areas for IP, underlining whether CI would have paid out under the same circumstances.
Heather Armstrong, head of marketing at Scottish Equitable Protect, said the sales tool aimed to stress how it is becoming increasingly import-ant to protect your income. 'Income protection and critical illness cover offer distinct benefits and our aim is to clearly demonstrate these differences. Income protection policies will often cover clients for absence from work due to sickness or injury, which may not constitute a critical illness, for example. Psychological complaints frequently fall into this category,' she said.
Claims history outlined in the leaflet shows the majority of female claims are link- ed to psychological dis- orders, whereas the most com- mon claims area for men is cardiovascular, including heart attack.
