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AMI, PDG and IPTF release guide to saving protection policies during COVID-19

Jessica Bird

April 21, 2020

protection policies

The Association of Mortgage Intermediaries (AMI), Protection Distributors Group (PDG) and Income Protection Taskforce (IPTF) have collaborated to create a guide to help advisers educate their clients.

The guide warns that, as the crisis continues, many clients may consider cancelling their protection policies due to financial concerns.

It aims to help advisers ensure that cover is maintained by educating clients about the benefits of their existing policies, as well as discussing alternative options to cancellation.

The guide suggests measures such as reminding the client that they might need cover now more than ever, and that taking out the same policy in the future might prove difficult and expensive.

In addition, advisers should remind clients of the value-added support services that might be present within a policy, such as video GPs, access to specialist nurses, and online fitness programmes.

If the client cannot afford the cover, the guide lists a number of options, including amending it, looking into career break options, and asking the insurer to temporarily waive premiums.

Robert Sinclair, chief executive of AMI, said: “Before COVID-19 hit, income protection policies sales were increasing and the ‘Access to Insurance’ signposting agreement made positive strides to help clients with disabilities and medical conditions find suitable cover.

“It is important that this momentum is not lost, as protection needs continue to exist.

“The value that intermediaries add is crucial to ensuring clients realise the far-reaching effects that cancelling cover could have on their lives.

“Many intermediaries are already contacting clients and generating discussion, but AMI, PDG and IPTF hope that this guide will be a useful tool.

“It was important for AMI to collaborate with the PDG and IPTF during these difficult times and to make sure as many people as possible benefit from the content.”


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