The Income Protection Task Force (IPTF) has launched ‘Seven Families', an industry initiative aiming to show income protection (IP) and its benefits at work to the wider public.
The scheme, in partnership with Disability Rights UK, will help seven families to function despite the breadwinner not working because of sickness or accident severe enough to keep them off work for the foreseeable future.
The household's breadwinner will not have IP, but will be someone who could have purchased it before they were taken ill; they will have been earning within an income range of around £30,000-£35,000 before disability and they will receive significant rehabilitation.
The process the families go through will be broadcast across several media platforms.
Today's launch saw Peter le Beau, chairman of the IPTF, say: "This project is not in any way to criticise the Government's approach to welfare or to make a grand political statement, it is just intended to show a situation people need to know about and that hardly anyone does.
"I have talked in principle to companies for some time about providing the funding for such a scheme...but we will shortly be sending contracts to the companies who have indicated an interest in participating, we will be showing what we ask the families to sign and will outline how we will run this project.
"In return we will be asking the companies to fund the project for a year. The cost will be £20,000 maximum."
Le Beau would not name those still in talks, but providers indicating at the launch that they would be investing in the project include; British Friendly, PruProtect, Zurich, Scottish Widows, LV=, Ellipse, Friends Life, Unum and Aviva.
Disabilitiy Rights UK's role will be to initially recruit the seven families, to administer the all the project funding and to offer ongoing support. Disability Rights UK, an umbrella body, has 302 organisational members from charities to citizen's advice bureaux to Government departments.
Jason Jaspal, disability manager at Disability rights UK, added: "We see a direct link between disability and hardship every day. The Seven Families initiative gives us the opportunity to raise awareness and draw attention to the lack of resources and consequences individuals and their families can face."
Commenting on the plan Louise Colley, protection director at Aviva, said: "We believe every family deserves to understand the risks it faces today. This initiative will support this because the ignorance of the lack of support is astounding."
'Whatever else changes in the world there are always lies, damned lies and insurance sales figures'
Totalling £3.4 million
52% y-o-y growth
As part of COVER’s new eBook in partnership with Royal London, we asked advisers about the barriers they frequently face when talking about protection – and what they do to jump over them
Ahead of Mental Health Awareness Week