The APH Team are pleased to throw our full support behind the Seven Families project to help improve awareness of a valuable, but sadly undersold insurance policy
As a website that promotes the Good, Bad and Ugly in financial services and the insurance industry it is easy to forget that we are not just an insurance bashing website. Besides holding insurers and financial institutions to account, it is also our goal wherever possible to highlight positives within the financial and insurance industry that can help improve the understanding of products and services.
Peter Le Beau, chairman of the Income Protection Task Force who is leading the Seven Families campaign, announced today that both Angry Policyholders and The Money Advice Service (Mas) have now joined with 17 existing advisers and insurance providers to help raise awareness of the need for income protection.
Chris Hargreaves, head of the Angry Policyholders said: “Not only will Seven Families be an excellent way of highlighting the importance of Income Protection insurance to the seven families who did not consider this type of insurance, but their personal stories hopefully will show the difference this income makes to their lives whilst recovering from an illness or accident.
”From personal experience having no replacement income only adds stress and debt, delaying any recovery when you are at your most vulnerable. Hopefully Seven Families will highlight the need for more consumers to purchase IP and protect their monthly income.”
Mr Hargreaves added: “UK insurers should be applauded for raising awareness of IP, a type of insurance consumers fail to consider in any great number. Hopefully Seven Families will lead to a more proactive approach by UK insurers to raise awareness of the importance of IP, leading consumers to purchase this type of insurance in greater numbers.”
Mr Le Beau said: “To have both Angry Policyholders and Mas on board is fantastic news. Their commitment to consumer issues is excellent, and we are looking forward to taking the project forward.
“We have been busy working on a number of areas in the build-up to launch, which is almost ready. We hope to announce the first family in the coming weeks.”
Seven Families which should officially launch soon will be backed by a major media campaign helping bring the benefits of income protection insurance to the attention of the wider public, increasing the chances of IP being sold in higher numbers.