The Income Protection Task Force has confirmed today it is has received the £300,000 in funding needed to go ahead with the “Seven Families” project.
In total, 17 companies have committed to the initiative thus far, which should now launch as scheduled in September.
The IPTF hopes the campaign will increase awareness and take-up of income protection. It is working with charity Disability UK to select seven families from across the UK to take part.
It has asked for donations of at least £20,000 from participating insurers and will pay monthly income to seven families where the main breadwinner is unable to work due to illness or injury.
A feedback meeting for the companies involved with the campaign will be held later this month, with the first planning workshop scheduled in July.
IPTF chairman Peter Le Beau says: “We are thrilled the Seven Families idea will now become a reality. We have a wide range of companies supporting us and I would like to thank everyone who has been involved so far in helping to unite the industry for this project.
“We continue to welcome additional support and would ask any interested parties to contact us.”
The following 17 companies have pledged their support to the campaign:
|Aviva||Pacific Life Re|
|Hannover Re UK Life|