Paul Avis, Sales and Marketing Director at Canada Life Group Insurance, comments on the Government’s plans aimed at cutting the number of people in the UK eligible for disability benefit.
“Today’s announcement from the Government provides further confirmation of a continuous campaign for the reduction – or in some case removal – of State support and benefits. Disability living allowance is only one component of support that is available from the State, yet this move alongside welfare reform on core benefits such as the Employment Support Allowance (ESA) and those in the Work Related Activity Group has significant implications.
“As a result, we would expect to see an increase in both group and personal income protection policy sales as people realise that State Benefits are becoming more difficult to qualify for and do not provide as much financial assistance as income protection.
“It is becoming even more important that advisers understand that personal and group income protection insurance is a priority, rather than a peripheral, part of personal and corporate financial planning. It is vital that people have a security net in place, to ensure that both they and their family are provided for in the event of an illness or injury.”
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