View more on these topics

Unum slams Defaqto’s income protection report

Unum has criticised Defaqto claiming its recent report on income protection skips over the hard work providers have been putting in to improve the product and boost sales.

In the report, Income Protection Insurance 2007 – A time for action not words, Defaqto urges insurers to take definite action to innovate and simplify their products to widen the product’s appeal.

But Unum corporate services director Joanne Hindle says the report does not adequately reflect the progress the income protection industry has made and adds that radical change is unnecessary.

She says revised application processes, online submission facilities and tele-underwriting have cut processing times significantly and rates are extremely competitive.

She says: “There is a burgeoning protection gap and radical change in an industry that has already advanced so far, is to a large extent unnecessary and may simply confuse users and lead to further uncertainty.

“What we recommend is clear IFA and consumer education, so businesses and consumers can understand the benefits of IP and make an informed decision based on this information.”

Recommended

Music to whose ears?

As we approach the end of summer – and we know it is the end of summer not because of this volatile weather but because the shops are now stocking their new winter ranges – it is time to prepare for a period of change like has never faced financial services before.

Cancer survival rates low in the UK

UK cancer survival rates are among the lowest in Europe, according to analysis published in the Lancet Oncology.

Protecting long-term savings from short-term policy

By Jamie Clark, Business Development Manager The pensions revolution is almost upon us. As with any revolution, there will be winners and losers. The winners in this case could presumably be the politicians that orchestrated pensions freedom and choice just before the general election. As for the losers, there may be many thousands of people […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com