Phil Jeynes: Income protection needs more than awareness to move the dial

“The onus of promotion here is not solely on insurers”

clock • 2 min read

Industry initiatives to promote the value of income protection are welcome, but the product still requires more dedicated support from all industry players to increase take-up, writes Phil Jeynes, director of corporate strategy at Reassured.

One of the first times I was quoted in a trade press article was on the subject of income protection. I forget which publication and why, but I remember the gist of my comment which was: I wouldn't be surprised if insurers stopped offering IP if brokers continue not to sell it. The reason it sticks in my memory is the firm I was working for at the time had just been acquired by a business which manufactured IP and they weren't thrilled about their new subsidiary suggesting publicly that their product might be withering on the vine. Luckily for them, I was wrong and insurers have persi...

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