INCOME PROTECTION NOT JUST FOR HOMEOWNERS, WARNS TENET

Date Published: 06 June 2008

Tenet’s protection specialist arm, Premier Partnerships, is reminding its adviser clients that Income Protection is not just for people with mortgages. Although traditionally related to the mortgage sale, protection of income has far wider connotations and is relevant to anyone who has monthly overheads that could not be covered in the event of incapacity. It can also be applied to people who do not actually earn an income, but whose role would cost money to replace, such as a stay at home mum or dad who is responsible for childcare.

Another area for advisers to consider is that although it is common to wait for a mortgage to complete before putting the policy on risk, in many instances the client may have other liabilities which are equally in need of immediate protection.

Keith Richards, Tenet Group distribution & development director comments:

“Under TCF principles, it is essential that advisers understand the features and benefits of protection products and have the skills to effectively identify needs and position solutions with their clients. Premier’s business development support is key to helping advisers adapt and flourish in challenging market conditions as well as fulfilling their obligations to their clients.”

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