As a specialist in short-term income protection insurance, Cardif Pinnacle is keen to support wider industry initiatives like Seven Families which create awareness of the financial vulnerability of many families and the impact of loss of income due to illness or disability. The aim is that more consumers will understand and consider the need for income protection.
Cardif Pinnacle attended the launch of Seven Families on 21st May during which insurers and other stakeholders heard from speakers, including a customer who talked movingly about the emotional and financial consequences a serious illness had on her family and how her income protection policy helped to alleviate the impact.
Seven Families will help seven families for a year where the primary earner is unable to work due to illness or disability. The families will receive a regular monthly payment to support their living expenses. This will represent the monthly benefit they would have received if they had some form of income protection. The families will also receive rehabilitation and back to work support services.
Funding for the initiative will be provided by participating insurers such as Cardif Pinnacle. The stories of the families will be shared via various media.
David Ellis, Head of Commercial Support for Cardif Pinnacle, who attended the launch last month said:
“We are excited to be taking part in Seven Families and as we work through the implementation detail there is a now a growing momentum and determination within the protection industry to make this happen. Our own latest consumer research has highlighted the lack of awareness and understanding of income protection and Seven Families is well aligned with other initiatives that we will be progressing with during 2014 and beyond”.
Peter Le Beau, chairman of the IPTF, added:
"Cardif Pinnacle has been very supportive of our proposals and I'm delighted they have joined the Seven Families initiative. As the only outright short-term income protection insurer to support and commit to Seven Families, Cardif Pinnacle is fully embracing the campaign and they are leading the way in rejuvenating the short-term income protection insurance market".
