Industry news and views from Panacea and our partners.
Protection_
Cirencester Friendly: Millennials most likely to associate personal confidence and a sense of purpose with work
A new survey* from income protection provider Cirencester Friendly reveals more than eight out of 10 workers think if they couldnt work due to illness or injury, it would damage their personal confidence. A third believe it would have a major impact and only 8% of workers think it would have no effect at all. This dent to confidence could hamper the speed of recovery and delay a return to work.
Cirencester Friendly: 70% of workers think work has a positive impact on their health and wellbeing
A new survey from income protection provider Cirencester Friendly reveals most people believe work has a positive impact on their health and wellbeing. Seven out 10 respondents, agreed with this statement with just over a third (34%) agreeing with it strongly.
Cirencester Friendly: Friendly Voice Support
Members making a mental-health-related claim will now be automatically referred to our Friendly Voice service, giving your clients access to a personal RedArc nurse for guidance throughout their claim and ongoing wellbeing support.
Cura: Practical Protection Podcast: Critical Illness Cover in Trust
There is a strong focus in the industry on placing policies into Trust, and for good reason. In most cases, using a Trust is straightforward and ensures the policy is structured correctly for clients. Cura highlights that while there are a few exceptions, its generally an important step that shouldnt be overlooked.
Cura: Practical Protection Podcast: Joint Life Second Death vs Single Life Insurance
Cura explores when joint life second death cover may be considered instead of single life cover. While these policies are usually for different purposes, there are situations where the comparison matters. This episode highlights when that applies and why advisers should be aware of it.
Cirencester Friendly: Adviser Resource Hub
We have a one-stop-shop on our website, aptly named our Adviser Resource Hub. On this Hub you will find an assortment of educational tools, industry insights and media training videos, such as our bite-size claims video series.
Cirencester Friendly: Work Provides Purpose, Something Well Worth Protecting
When you meet someone for the first time, what questions do you ask? After enquiring about their name and where they live, the next one tends to be: What do you do?
Cirencester Friendly: The Evolution Of Claims
Protection used to be a business conducted exclusively on paper. Older customers will remember only too well the pain of filling in long, laborious forms to make a claim and then sending these off in the post, trusting they would arrive safely at the correct destination.
CURA: Practical Protection Podcast: Coeliac Disease
A lot of the time coeliac disease is not a concern to insurers looking at life insurance, critical illness cover and income protection. However there are quite a few things you should check with your client about the condition, before you assume that their insurance applications will be accepted at standard terms.
Critical Illness: Progress Goes Deeper Than Policy Wording
Many advisers will recognise how far critical illness plans have come since their launch in the 1980s. Conditions covered have expanded, wordings have tightened, and claims processes are far clearer than they once were.
More than 50% of employees would be likely to continue to work even if they didnt need the money
A new survey from income protection specialist Cirencenster Friendly reveals the important role work plays in peoples lives beyond providing a regular income. In our survey with more than 2,400 people who are currently working, 51% said they would continue working, even if it wasnt a financial necessity. Indeed, 7% of respondents said they were already in this position. Only just over a third (36%) said they would unlike to continue to work if they didnt have to earn money.
Cirencester Friendly: Alan Waddington: Remember when News Corporation bought MySpace dont ignore your customers like they did
Remember MySpace? In the mid-2000s, it was considered the cool social media platform. At its peak, MySpace had almost 76mn unique users and helped launch the careers of Lily Allen and the Arctic Monkeys.
Critical illness cover: What advisers really need to know about additional payment conditions
Advisers are generally confident when it comes to selecting quality critical illness (CI) plans - definitions, incidence rates, and provider claims stats are all familiar territory. But dig into the additional payment conditions, and things get a lot more nuanced.
Cirencester Friendly: A decade of giving back
In 1890, financial safety nets were only for the very rich. If ordinary workers couldnt do their job because they were ill or had had an accident, the state offered no help and the future was potentially very bleak for them and their families. Cirencester Friendly was created to fill this gap and provide much needed assistance when workers and their families needed it the most.
Cirencester Friendly: Adapting to life after breast cancer
Life is different now, but Im thankful to be here and looking to the future. Beverley Lambert is a Claims Consultant at Cirencester Friendly. Almost four years ago in November 2021, her world was turned upside down when she discovered a lump in her breast. She made an appointment with her GP to get it checked out and from there events moved very quickly. By the end of the month, shed had a mammogram and ultrasound, which confirmed the lump was cancerous.
Cirencester Friendly: The vicious cycle of illness and social isolation
The latest United Nations World Happiness Report reveals that Finland is the happiest country in the world to live in. They have topped the list for the past eight years. What makes this country with long, cold dark winters such a blissful place to live? Aside from fantastic scenery, plenty of space and relative prosperity, much has been put down to their obsession with saunas. Almost 90% of Finns go at least once a week, meeting friends and family to enjoy this communal experience.
Cirencester Friendly: Building on the Friendly Society legacy
Friendly societies have played a vital role as mutual insurers in supporting people and communities for more than 200 years. They have fostered social cohesion and provided essential financial support when it has been most needed, allowing members to proactively secure the lives theyve built.
Cura: Practical Protection Podcast: Early Onset Colo-Rectal-Cancer
Hi everyone, I have Kate Baldry joining me today to share her insights into early onset colo-rectal cancer, a diagnosis that is happening more and more.
CURA: Practical Protection Podcast: Bowel Cancer and Me
Hi everyone, we are closing off season 10 with a very personal episode, with Phil Jeynes joining me to talk about his experience of being diagnosed with bowel cancer.
Cura: Practical Protection Podcast - AI and Insurance
Lisa Balboa is back and she is sharing her insights into how AI is helping insurance across the world. Lisa brilliantly explains how AI is working alongside people to improve access to insurance and better claims experiences.
Cura: Practical Protection Podcast - IHT Case Studies
I have five case studies for you this time. Im going through life insurance options for gift planning and IHT planning.
Cura: Practical Protection Podcast - Chronic Fatigue Syndrome
Today we take a look at how living with chronic fatigue syndrome can influence your options for life insurance, critical illness cover and income protection.
Cirencester Friendly: The vicious cycle of illness and social isolation
The latest United Nations World Happiness Report reveals that Finland is the happiest country in the world to live in. They have topped the list for the past eight years. What makes this country with long, cold dark winters such a blissful place to live? Aside from fantastic scenery, plenty of space and relative prosperity, much has been put down to their obsession with saunas. Almost 90% of Finns go at least once a week, meeting friends and family to enjoy this communal experience.
Cirencester Friendly: Building on the Friendly Society legacy
Friendly societies have played a vital role as mutual insurers in supporting people and communities for more than 200 years. They have fostered social cohesion and provided essential financial support when it has been most needed, allowing members to proactively secure the lives theyve built.
5 Essential Considerations When Assessing Critical Illness Policies
When advising clients on selecting the ideal critical illness (CI) plan, several factors come into play - cost, quality, claims statistics, and administrative efficiency, among others. Ultimately, however, the true value of a plan is revealed at the point of claim.
The Hidden Risk in Mortgage Advice: Ignoring Protection Reviews
Networks report that just one in four mortgages arranged today are backed by a mortgage protection plan. That figure is worrying enough, but even more concerning is that many mortgage advisers fail to revisit protection needs when clients switch rates - or even when they move home. Most industry commentators agree: this behaviour runs counter to the spirit of Consumer Duty. But beyond regulatory expectations, this is simply a matter of common sense and client care. Heres why.
NHS Waiting List Cover: An Overlooked But Vital Protection Benefit
Theres a natural tendency for protection advisers to focus on critical illness conditions and the intricacies of claim wordings. After all, the likelihood of a successful claim often defines the perceived value of an insurers offering.
Cura: Practical Protection Podcast - Cigarettes and Alcohol
We have Alan Knowles back with us and we are taking a look at how lifestyles can affect options and pricing of life insurance, critical illness cover and income protection.
It's all about Cirencester Friendly's 125 Foundation
Hear from the wonderful Caroline Hume and Sara Carpenter as they explain how the foundation can support your clients, and even help you reach your own fundraising goals!
Cirencester Friendly: Informed choice: Protection is far from a commodity that can be plucked boxed-ready off the shelf
Alan Waddington, distribution director at Cirencester Friendly Society Limited, discusses the importance of articulating the benefits of policies offered by different providers, not just pitching on price.
CURA: Practical Protection Podcast: Income Protection Taskforce
This epidsode discusses whats working well in the IP world and what we would like to see change if we had a magic wand. I know that my magic wand wish will not be popular with many people!
Cirencester Friendly: LetsTalkIP podcast
This episode explores the unique role of mutual societies and friendly societies in the income protection market, examining their history, customer benefits, and future growth potential under the new Labour government.
Cirencester Friendly: Paradigm Protect Insights
Hear from our Senior Claims Manager Robert Higgins as he chats all things claims with Michael Allison at Paradigm Protect.
Cirencester Friendly: What our Advisers Say
Introducing our Business Development Manager Emily Kate Day and our special guest Tom Fish. Tom chats to Emily about the why he enjoys working with our team, and the benefits his clients continue to experience with Cirencester Friendly.
Sick Pay or Serious Payout? Rethinking the Battle Between Critical Illness and Income Protection
For over 25 years, the financial advice community has echoed a familiar refrain: Why is critical illness cover (CI) more commonly sold than income protection (IP)? The concern is valid, and the numbers back it up.
Panel Thinking: Reassessing Adviser Restrictions in Light of Consumer Duty
This may raise concerns among colleagues in networks and affinity groups, but it is a discussion that warrants wider industry attention. It also aligns with key themes in the FCAs recent Market Study (MS24/1.2): namely, the role and impact of insurer panels on consumer outcomes.
Cura: Practical Protection Podcast: High BMI
We're back with an insurance underwriting consideration that I cannot believe we havent covered before: high BMI! Weve talked about BMI in the past, but not done a specific episode, which is so bizarre as its something that I think every adviser has come across at some point.
CURA: Practical Protection Podcast - Simplified Income Protection
Hi everyone, we are having a theme of income protection related podcast episodes this season. Im loving it! I personally feel that income protection is probably the most essential protection insurance product for working people.
CURA: Practical Protection Podcast - Social Media Influencers and Income Protection
It is really interesting with social media influencers as they are tending to reach out for support with their insurances, from the mindset that they need income protection.
Musculoskeletal conditions become the most common reason for Cirencester Friendly claims in 2024
Individual income protection provider Cirencester Friendly maintained their impressive claims payment record in 2024, paying 95.8% of claims, equalling the figure paid out in 2023. The total number of claims considered rose by 15%, with 1,414 income protection claims considered and 1,354 claims paid. The total amount paid to Members also rose to over £10 million.