Your clients are never too young to protect their income

21 August 2018

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No one wants to think about how they'll pay the bills if they're sick or injured and can't work.

And that’s especially true when you’re in your 20s and getting sick is something that only ever happens to ‘old’ people, never someone like you.

Unfortunately, for one of my close friends, that couldn’t have been further from the truth. He’d been hit with what we had all presumed to be ‘man flu’ and for the first few weeks had to endure the usual jibes about getting over it and it just being a cold. In my group of friends, giving someone a good ribbing comes a lot easier than offering sympathy!
However, after yet another appointment with his GP, it soon became clear that the situation was a lot worse than that. At 28 years old, my friend was told he needed a kidney transplant.

Up until then, he’d been a relatively healthy young man. He worked hard, had bought a new house with his partner and had two young daughters. Surely kidney transplants were for really sick people? Looking round the room at the hospital, the shock was evident on all our faces. As a group, this left us being hit with the stark realisation that we weren’t actually invincible.

It was during this time that I and my now-husband had started to take those first exciting steps into buying our first house. Suddenly we were left thinking, if it could happen to him it could happen to us. How would we pay for this lovely new house?

Research shows that 41% of people would struggle to pay their bills if they couldn’t work for six months, but only 10% of people have cover in place to protect their income.*

That’s where our protection comes in. No matter what stage your clients are at in life, they need to think about how they would cope with a sudden loss of income. In my friend’s case, he had critical illness cover in place. So while he was going through a tough time, he could rest a bit easier knowing that his bills were taken care of.

Sadly, it’s not over for my friend just yet. Because he has faced the unthinkable at such a young age, he’ll have to go through another transplant later down the line.

The next time you’re faced with a client like one of us, remind them they’re never too young.

Visit our website to find out more about the covers available within our Personal Menu Plan.
You can also create reports with our Marketing Studio that are tailored to the age of your client and their individual circumstances.

*Source: Mintel Income Protection report, February 2017.

About the author

Tracey Miller

Marketing Consultant

Tracey has been with Royal London since 2004 spending 7 years working with the Pricing team before moving in to the National Partnerships Marketing team. She is passionate about protection and enjoys creative writing. However, away from the office her time is consumed by her two young children!

Last updated: 21 Aug 2018
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The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.