The Income Protection Task Force (IPTF) has today launched a new publication Signposts for Income Protection which provides a range of initiatives designed to boost production and resolve s
It is a wide-ranging analysis of the challenges the product faces if it is ever to be written in greater quantities in the UK.
Peter Le Beau (pictured), the chairman of IPTF said: "We have developed three solutions to problems that have bedevilled the market in recent years. The Family Support Initiative is a high-profile partnership with a number of charities to raise awareness of most peoples' financial vulnerability if they become ill.
"We have also attempted to clarify the interaction between income protection benefits and welfare payments so that we can identify who has a real need of the product."
The group has also developed a Charter providing a Code of Conduct for the industry which will boost confidence among both advisers and consumers that insurers will treat them fairly."
Roy Mcloughlin, an adviser and one of the IPTF executive said: "I believe we have simultaneously addressed the three biggest problems which prevent us selling the product to many people who desperately need this cover. We now have clarity in some vitally important areas and I hope this will encourage advisers to look very seriously at their clients' IP needs."
The publication which is interactive and online can be accessed at www.iptf.co.uk
Further coverage from the launch event, which was held today at Swiss Re's St. Mary Axe headquarters is to follow.
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