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Campaign group IPTF reveals plans to boost income protection market in 2020

A new Seven Families campaign aimed at advisers has been launched

The Income Protection Task Force (IPTF) has set out a range of plans for the year ahead that aim to build on the market’s recent growth.

The campaign group has reignited its Seven Families initiative, which ended in 2016, with a new campaign aimed at advisers.

The Seven Families charity-led campaign group has been credited with boosting awareness and sales of IP in recent years

Several short videos will be aired throughout the year using footage of the original families to highlight important topics such as mental health, counselling, returning to work and the role of the adviser and many more.

IPTF and the Protection Distributor’s Group (PDG) will be working on several initiatives throughout the year, starting with a project to improve how income protection works for those with varying incomes, including dividends and gig economy workers.

An ongoing ‘approved adviser’ list is being developed
to signpost consumers and advisers to specialist IP intermediaries

They will also seek to develop an ongoing “approved adviser list” for IP, so consumers and advisers can easily find a list of adviser firms who specialise in the product.

IPTF has promised more adviser training, a regular range of independent content on its website and a series of podcasts that include interviews and sales tips.

Alan Knowles, chair of the PDG, said the Seven Families project was one of the greatest promotions of protection insurance that the industry has seen.

“As well as highlighting the importance of income protection it also highlighted just how incredibly valuable the additional support services are to claimants. Given the IP market has seen growth year on year since its launch and that the project is still discussed so heavily today, it makes perfect sense to see it revisited,” he added.