There is more to insurance than just money.
Traditionally, insurance policies paid out money in the event of a claim - money to support the family, individual, or to replace what was lost.
Over time however, insurers have started to understand that there is far more support that may be needed than just a wadge of cash being waved around. Support which guides people back to full fitness, be it physical support (physiotherapy) or confidence coaching by way of ongoing career guidance now form an integral part of many protection policies.
In the same way, in which you would not expect to see young children deceased parents handed a large amount of money and expected to simply get on with it, neither now, are clients recovering from a long term illness left to their own devises, when, in reality, the basic financial issue may well not be their greatest challenge.
Protecting your income in the event of long term sickness, now not only provides an essential financial safety net, but also, in this article, highlights the other very valuable support available.
It seems the campaign has also helped encourage a pick-up in demand for income replacement cover – a 10.7 per cent increase year on year according to Swiss Re – although overall purchases remain pitifully low (107,000 policies were bought last year).