CIExpert has added Vitality to its Income Protection Insight Zone.
Vitality’s Income Protection plan will now be available to all CIExpert subscribers at no additional cost.
It is the latest insurer to have signed up for the CIExpert’s income protection hub. Other big-name insurers include AIG and Guardian.
CIExpert said its Insight Zone develop the range of services offered to advisers looking for all the information they need to support their advice recommendations in a single online income protection ‘hub’.
It said growing usage of the Insight Zone has been “very strong”, with a significant increase in adviser engagement over the last 12 months.
The interactivity of its unique Maximum Benefit Calculator being highlighted by advisers as a clear and simple way to illustrate the benefits of the income protection products available to their clients.
One of the findings in CIExpert’s recent Critical Thinking 2024 Report was that 58% of consumers stated that they’d anticipated using the claim proceeds of a critical illness plan to replace lost income (30%) and everyday expenses (28%), with just 19% using it to repay a mortgage.
CIExpert said the report highlights the lack of understanding of income protection among consumers.
Therefore, it has extended the income protection claims data available to include claims by total amount in payment, by year, by condition and by age to help advisers explain the merits of income protection.
CIExpert proposition and distribution director Paul Roberts said: “It is encouraging to see the growth of the income protection market as CIExpert continues to develop our Insight Zone for advisers and their clients.
“We are delighted that Vitality have chosen to work with us to add to a growing number of insurers joining our Income Protection Insight Zones alongside their Life & Serious Illness Zone to cover all their protection offerings.”
Vitality’s director of strategic partnerships Andy Philo added: “Vitality has seen considerable growth in IP sales since we made significant enhancements to the product last year and it’s great that CIExpert’s new Insight Zone can present these from today, helping advisers recognise the strength of the Vitality IP product for their clients.”
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