Good advice has its benefits

28 November 2018
With your good advice and a good protection plan your clients can access tangible benefits linked to their recovery.

Yes the shiny cinema tickets, gym memberships and free tech might seem great at the outset – but in the long run having a product that delivers what clients need when they need it, practically and financially, is what our business is all about.  And satisfied clients who can rest easy knowing their needs are taken care of should the worst happen can only be good for your business - and conscience.

A long-lasting illness or a difficult recovery from an injury can have a devastating effect on a person’s day-to-day life. Not being able to do the things they used to take for granted like taking care of their family, going to work, or even doing the weekly shop can lead to feelings of isolation, frustration or anxiety, which in turn could have an impact on recovery time.

And of course being off work for a long time can also affect a person’s financial wellbeing.

If clients are used to earning a regular wage every month, suddenly having to survive on Statutory Sick Pay (SSP) can add extra worry - and some people, like contractors or those who are self-employed, may not even be entitled to receive that. More stress over how to pay the mortgage and bills isn’t something they need when they’re already feeling low.

Two of the most common reasons for claims on our Income Protection last year were for musculoskeletal problems like back injuries, and mental health issues such as stress. Both are conditions that typically won’t improve without ongoing medical help and long-term support.

But did you know that SSP is only payable for a maximum of 28 weeks? Unfortunately the recovery time for serious illnesses can be much longer than this. In fact, 65% of customers who made an Income Protection claim with us were still off work after three years.*  

And the longer someone is ill, off work and out of a routine, the longer it can take to get back to feeling like themselves again.

This is something we recognise at Royal London - that getting well and back to work as quickly as possible is crucial. Even if you have Income Protection to fall back on and help take the worry out of getting by and paying the bills, getting your daily routine back to normal can really help your mental wellbeing. After all, life’s about more than just paying the bills every month.

That’s why our Menu Plans provide access to our Helping Hand support service at no extra cost. Our customers will get help from a dedicated nurse who’ll provide tailored and personal support for as long as it’s needed. Their nurse can also arrange additional services, like counselling or occupational therapy, if they think that's what'll help get them back on their feet.

Find out more about the benefits of Helping Hand, and how it can support your clients.

Helping Hand is a package of support services, provided by third parties that aren’t regulated by the Financial Conduct Authority. These services aren’t part of our terms and conditions, so can be amended or withdrawn at any time.

*Source: Royal London UK protection business claims paid (1 January to 31 December 2017).

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About the author

Tracey Dickson

Marketing Consultant

Tracey joined Royal London in 2014 and has over 7 years’ experience in marketing roles within the private and financial sectors. Tracey studied design before moving into marketing and she enjoys writing and developing creative concepts for campaigns.

Last updated: 28 Nov 2018
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This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

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.