The protection industry has generally welcomed the ABI's decision not to re-name Total and Permanent Disability (TPD) on critical illness insurance and the agreement on industrywide standards.
Gerry Warner, protection development manager at Zurich Life was involved in the ABI's discussions around redefining TPD and is happy with its decision to retain the existing definition. "Having thrashed out the alternatives, we believe that TPD remains the most appropriate wording to convey what we are trying to achieve and the new statement will help provide more clarity for customers," he said. "The industry now needs to work together to help further develop education and guidance for advisers in improving knowledge and understanding around this condition. "TPD should not be used...
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