So little TPD, for tiny sums
Yet, TPD is a classic for insurance: it is a rare occurrence that has a catastrophic effect on a person. It applies as much to individuals as families.
The scope for financial protection to help supporters, and the insured themselves, is huge. The ability to cushion a fall in living standards for a relatively low premium is arguably bigger than for any other insurance product.
But TPD has an image problem.
If even you don’t like it much then clients will like it less. The role of TPD has been encroached on by trauma and income protection, and in comparison, you may be part of the majority of advisers that worry about whether TPD claims are being paid. Worryingly for insurers, but reassuring for clients, the news on the claims front is that more and more TPD claims are paid.
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