The Life Insurance Market
Providing income protection insurance as part of a menu plan is a very effective way for independent financial advisers to make sure that their clients are covered.
This comes from Defaqto, which has analysed a range of sales techniques for income protection cover and concluded that this is the best one.
Menu plan products rated so highly as they allows advisers to scale down what is offered to the client based on what they can afford and what cover they need.
Defaqto's Ben Heffer notes that the analysts "found that critical illness cover is often seen as a substitute for income protection when actually it should be considered as complementary".
As such, when clients are given their protection options, they shouldn't dismiss income protection as it can provide them with a number of extra benefits.
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