Advisers are optimistic for the future of Income Protection
Mon, 13 Sep 2010
Advisers say they are optimistic about the future of the income protection (IP) market, despite overwhelmingly expecting fewer IFAs to be practising in the sector and fewer products being available, according to new research.

The study, conducted by Cirencester friendly, also shows they appear happy with the development of tele-underwriting, but 70 per cent of advisers do not know the difference between big-T and little-T. Big-T tele-underwriting entails a simple application form which includes basic contact details and all medical information is sourced on the phone, while little-T involves the usual application process and a further phone call to tie up loose ends.

Only 2 per cent of intermediaries would never select a provider who used tele-underwriting, but equally so, only 1 per cent just choose insurers who offer the service. It is worth noting that 42 per cent said they would make the choice to use tele-underwriting depending on the client, while 55 per cent said they preferred to have the choice.
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