The Protection Review and Income Protection Task Force (IPTF) have produced a list of the top ten things consumers should be aware of when purchasing income protection (IP).
It is part of a drive by the IPTF to increase awareness of the product and follows yesterday's announcement that it is hosting a meeting for the main IP providers to create a pan-industry agreement on increasing sales. The list prioritises ‘own occupation' cover over other forms such as ‘work tasks' and highlighted the importance of knowing the limitations of workplace and State benefits available. It also recommends checking the claims paid by those providers who publish these statistics. Roy McLoughlin, senior partner at Master Adviser and a member of the IPTF, emphasised the imp...
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