Our BUILD: Protection sessions are designed to help you meet a chunk of your IDD requirement, by bringing you the latest trends, and a range of themes within the world of protection, to ensure you are genuinely gaining some insight and development, and not just ticking that CPD box.

A range of speakers will help you view protection and insurance planning in a new light and, who knows, may even get you excited to embrace the IDD requirements…

Agenda

Family Income Benefit – A cost-effective alternative – Royal London

Family Income Benefit (FIB) is a cheap and easy way for clients to provide their families with an income rather than a lump sum if they die. It can be especially attractive for clients with young families as they might want cover to run until their children are grown up. This income could be used to meet everyday expenses or to pay for specific ongoing expenses such as school or university fees, protect maintenance payments for the divorced and also, for many families who are privately renting, FIB is perfect to safeguard those rental commitments. Join us as we take a look at this low-cost protection solution and share some simple yet effective opportunities for you to bring FIB to life with your clients.

By the end of this session, you will:

• Be able to describe the main features of a Family Income Policy.
• Have a clearer understanding of the types of clients who would benefit from a Family Income Benefit Policy and how to position this.
• Have a better understanding of the importance of indexing income-based policies.

Understanding Relevant Life Plans and Executive Income Protection Plans – Legal & General

Many advisers are familiar with Relevant Life and recommend it to their clients as a cost-effective way for a small business to provide life insurance to an employee, often the business owners. Legal and General, also provide a cost-effective way to protect their income with our Executive Income Protection plan. The Executive Income Protection offers clients who run their own businesses the option to arrange cover for either themselves or an individual employee through the business.

This session is designed to give insight into how the products work, their tax position and how they could fit within a holistic advice process.

By the end of this session, you will:

• Understand the criteria for Relevant Life Plans and Executive Income Protection, and how these policies are structured in a tax-efficient manner leading to the potential savings a customer can achieve.
• Identify why it is important to highlight the importance of protecting your income as part of a financial review for self-employed and business clients and the role Executive Income Protection plans can play.
• Demonstrate the benefits of writing Relevant Life Plans and Executive Income protection for your clients.

Time to Think Protection – Scottish Widows

In this session, Scottish Widows will look at how to encourage better engagement in the delivery of protection advice.

By the end of this session, you will:

• Understand how customers are currently buying protection.
• Explore how Consumer Duty will impact the protection distribution landscape.
• Have a better understanding of why it matters.
• Understand the benefits of creating a protection culture.

Income Protection vs Critical Illness  – Aviva

Income protection and critical illness insurance serve different purposes in safeguarding an individual’s financial well-being during times of adversity. Income protection insurance provides a regular income replacement if the policyholder is unable to work due to illness or injury, ensuring that essential expenses like mortgage payments, bills, and daily living costs are covered.

In this session, Dan Wall will cover the key differences, helping advisers navigate how both can fit into the advice process.

By the end of this session you will:

• Know the difference IP and CIC play in a customer’s lives.
• Understand how they can work together to support a customer.
• Understand how both can be introduced as part of the customer conversation.
• Explore common objections when discussing critical illness and income protection.