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MM leader: Light up protection

Money Marketing welcomes the Income Protection Task Force’s roadshows aimed at promoting the benefits of IP to IFAs and mortgage brokers.

As a nation, we are horrendously under-protected and advisers are the best chance consumers will have to get decent cover.

IP is often considered a hard sell due to its perceived complexity and cost compared with other products, a view backed up by low sales figures.

State support for long-term sickness is meagre and only likely to get lower.

People need to be persuaded of the need to look after themselves and their families. The chance to protect your income against disability and serious illness should be better promoted as part of a suite of protection options offered to clients. Hopefully, the roadshows will shine a light on this important area of financial planning.

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