The Income Protection Task Force (IPTF) has said its 'Family Support Initiative' is ‘progressing extremely well' with a launch meeting for stakeholders set for May.
Potential participants will be invited to the meeting at a date currently to be confirmed.
Peter Le Beau, chairman of the IPTF (pictured) said "there will be a call to action" to companies to back the initiative.
Previously COVER revealed the IPTF will identify several families where the breadwinner has suffered a serious illness or accident. It will support the family for a year through a trust funded by insurers and reinsurers.
The IPTF has also been in dialogue with a range of parties including charities and the Money Advice Service.
It has been anticipated by the IPTF that the project will begin in early July.
Le Beau added: "Things are very much on track and at the meeting in May we will be presenting the whole plan from recruitment of families to how funding will work and what the communications strategy will be.
"There will be a call to action from companies who have already expressed commitment to the project and we will ask those companies who have suggested they would be interested in principle if they are happy with the direction of the initiative and are ready to commit. I am confident that companies will like what they see and feel it is worth backing".
Roy McLoughlin of Master Adviser and a member of the IPTF executive said, "We are really pleased at the level of engagement we are receiving and we have talked to a number of media personalities asking for advice on putting this together. It is looking like a very exciting and worthwhile concept to be involved in."
