Income Protection – why is it so important to you and your clients?
Principle 10 of the FSA’s Principles of Business
“A Firm must arrange adequate protection for client’s assets when it is responsible for them”
Income protection forms the basis of good financial planning. Without a continuing income most of your clients are likely to find it difficult to meet financial obligations such as mortgages, loans, pensions and other insurance products.
With over 2.6m1 people currently claiming a sickness related benefit from the Government and a staggering 94% of those benefit claims continuing for 3 months or longer, safeguarding your client from loss of earnings simply makes sense for all parties involved.
Income protection contracts cover a percentage of your clients’ Gross Income enabling them to meet all of their essential outgoings should they lose their income due to illness or accidental injury. For your client it means peace of mind, for you it means less chance of clawback from providers and no loss of commission.
Helping you demonstrate the benefits of income protection.
You know the key to providing high quality advice is good product knowledge. Cirencester friendly offers a wide range of support to help Finanical Advisor like you advise on our income protection contract including:
- Suitability letter – this can be used to contact your existing client base
- Sales Posters – Many of our Finanical Advisor place these in local community clubs and sports centres
- Sales Leaflets – great for mail shots or leaving at venues with your contact details on
- Key Account Managers who can come and walk you and your colleagues through Income Assured Plus and its benefits
- Access to those who can help including our Customer Care team and Underwriters who are here to help with any Income Protection enquiries
You can find out more about our income protection contract right here on our website
You must be CF30 regulated to sell Income Assured Plus. This is because the contract is a Holloway Income Protection Contract and is regulated by the FSA under COBS.
Why should I choose Cirencester friendly for income protection?
|  |
Transparency at Claim
We believe in transparency and publish our income protection claims statistics every year to help you reassure your clients that if they need to make a claim Cirencester friendly will pay. Our Claims Statistics Card is designed not only to show you how much we pay but also to help you educate your clients in how we assess a claim. This means if they need to claim they can be clear how our claims handlers will be assessing their claim.
Personal Service
Time and time again we hear providers cutting back on face to face service; this is not the case at Cirencester friendly. We give you access to our those you need to speak to whether its our Sales Team, Underwriter or Claims so you know you will be speaking to those who can help.
If you have an income protection question or query we are more than happy to help. Don’t forget Cirencester friendly doesn’t load premiums for:
- Occupation
- Gender
- Smokers
- Hazardous Pursuits
Call our Customer Care Team 0800 587 5098 or 0845 603 8085 or book a meeting with a Key Account Manger today.
1. Figure from the Department of Work & Pensions database based on those receiving Employment Support Allowance, Incapacity Benefit of Sever Disablement Allowance in August 2010.
2. Changes in cover may be subject to Underwriting and may change the terms on which your client was provided cover.