28th July 2020
The Exeter: Income protection is a necessity not a “nice to have”
Arguably the need for income protection insurance (IP) has never been greater – particularly for the near five million people who are self-employed1.
Self-employment offers several benefits; however, it also comes with risks. Having to take time off work due to illness or injury can result in a complete loss of salary, with little or no support (such as the Government’s statutory sick pay scheme) to fall back on.
The self-employed labour force represents a growing protection opportunity for advisers. IP provides a valuable financial safety net for everyone, but despite the need, our research has revealed that only one in ten self-employed workers have an income protection policy.
Steve Bryan, Director of Distribution and Marketing at The Exeter, looks at why it’s time to put income first when discussing protection.
Steve’s full article can be found in our exclusive eBook with Cover Magazine, which provides you with 60 minutes of unstructured CPD content. Access our eBook here.
Access our eBook here.
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