Seven Families reports rise in IP enquiries

clock • 1 min read

Seven Families has reported that the protection industry saw a rise in income protection (IP) enquiries towards the end of 2014.

Adviser quote portals iPipeline and IRESS' The Exchange reported a "notable rise" in IP enquiries towards the end of 2014.

iPipeline saw a 5% increase from November to January when compared to the previous quarter, and a 65% increase on the same period in the previous year.

The Exchange saw an 8% increase in IP quotes in November and a 14% increase in December 2014, when compared to the same months in 2013.

Advisory firm London & Country also recently described a 3% uplift in IP sales in Q4 when compared to previous quarters.

The Seven Families campaign, set up to raise awareness of the financial impact of long-term illness and disability launched in November 2014 to support seven families across the UK who have lost an income without financial support in place.

Michael Aldridge, sales director at London & Country said: "We saw good sales growth for income protection towards the end of 2014 and we're pleased to say it's a trend that appears to be continuing into 2015. The need to raise awareness of the benefits of income protection is great and we hope that the high-profile campaign surrounding Seven Families is having an impact."

Peter Le Beau MBE and spokesperson for Seven Families said: "It's encouraging to see any rise in the number of income protection enquiries and sales. While we can't claim categorically that the Seven Families campaign has contributed to this, the coverage across media and social media of the campaign has, we hope, helped to engage people on the importance of this issue, prompting them to speak to an adviser and take action."

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