Almost a third (31%) said they believed Seven Families has greatly raised the profile of IP with advisers, with a further 63% saying it had raised IP’s profile a little.
All advisers researched deemed the campaign of benefit to the protection industry, with 44% believing the campaign is of significant value.
When addressing the need for protection with clients, 70% of advisers researched said they had found Seven Families useful, with more than a third (37.5%) saying they had used Seven Families material directly with clients during their discussions. T
he same number also said they have talked about IP more frequently with clients since the campaign began.
Barry Pappin, of protection specialist Vita, said: “I think the campaign can only have a positive impact, but when it comes to the people that can have the biggest impact on income protection sales, not just awareness, it’s us, the advisers.
“The information available through Seven Families, combined with additional ways of getting advisers to talk about IP, such as roadshows like LV=’s ‘Wake up to IP’, are a great example of getting on the frontline, and arming advisers with the knowledge, tools and material to sell IP.”
When looking at the benefit of the Seven Families campaign amongst consumers, three quarters of advisers surveyed (75%) said they believed the campaign has helped raise people’s awareness of income protection a little.
Indeed, recent Seven Families consumer research showed that there has been a 4% improvement in awareness of IP between 2014 and 2015, with the same research showing a 4% fall in those saying they only vaguely understand IP.
Recent ONS statistics show the number of people out of work due to ill health has risen by 62,000 in the last year, meaning today, two million people in the UK are not seeking employment because of long-term illness.
And Seven Families research shows many in the UK would be unable to cope financially if they were seriously ill.
Peter Le Beau of Seven Families said: “It’s alarming that even though the message is coming loud and clear from the government that the benefits system is being cut back to balance the economy, some have unwavering belief that they will always be looked after if they can’t work.
“This is a dangerous strategy and advisers are best placed to help people see where the gaps are and when people require a financial safety net.
“Part of the reason the Seven Families campaign exists is to help advisers bring home the financial reality of suffering a long-term illness or disability, and we’re pleased that many have been using the material and the momentum of the campaign to do just this.”
