The Association of Financial Mutuals (AFM) joins Income Protection Task Force (IPTF) as associate member
AFM chief executive, Martin Shaw said: "We're very excited about becoming involved in the work of the IPTF, as over the years they have done more than anyone else to keep income protection on the radar. With many mutuals offering income protection, often with unique product features and to niche audiences, we are optimistic that messages about the value and relevance of income protection can build further on recent growth in demand for the product."
IPTF co-chair, Roy McLoughlin added: "The mutual and friendly societies were in many ways the pioneers of income protection, so we welcome their representative body and look forward to working with them. Income protection sales are on a welcome upward trajectory and along with the relaunch of Seven Families, it is important to have the whole industry joining forces to promote the most important protection messages."
Earlier this month, the IPTF launched 'Do you remember... Seven Families?', featuring two summary videos, along with a host of 2020 plans.
Set up to promote awareness of income protection (IP) across the life and health insurance industry and among consumers, the body represents numerous IP providers in the UK, reinsurers, advisers and businesses involved in providing services to the market.
Recently, Holloway Friendly became its newest member, however LV= announced it was not renewing its membership.
Up from 95.8% last year
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