Justin Taurog: The world is changing fast...IP needs to as well

"IP needs to be more relevant to the needs of today’s clients"

clock • 5 min read

The way we live and work has changed considerably in recent years, however traditional forms of income protection (IP) have struggled to keep up, writes VitalityLife managing director, Justin Taurog.

Today, it's increasingly common for people to change jobs - even career - multiple times during their lifetime, with much less loyalty to an employer than in the past[1]. At the same time, we've seen a big increase in self-employment and those running their own businesses. Meanwhile, the rise of the so-called ‘side hustle' has led to more people working multiple jobs, often out of financial necessity[2]. With life expectancy increasing and the state retirement age edging up, people are working longer to ensure they have enough wealth to fall back on in later life[3]. Wider economi...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Income Protection

Accident victims living with long-term health issues

Accident victims living with long-term health issues

"Younger people are particularly vulnerable"

Jaskeet Briah
clock 05 December 2024 • 3 min read
Partner Insight: New Age of Income Protection

Partner Insight: New Age of Income Protection

From Love Island to loving income protection, for Gen Z income protection should be "100% my type on paper", however, also like on Love Island, this does not guarantee compatibility.

Julie Thompson, Protection Proposition Manager, Scottish Widows.
clock 03 December 2024 • 6 min read
Iress adds ex-smoker questions to IP service

Iress adds ex-smoker questions to IP service

Additions to The Exchange

Cameron Roberts
clock 28 November 2024 • 1 min read