A children’s cover rider can be added to this income protection plan with some providers, while others – such as Aviva – offer an additional family carer benefit that pays out approximately £1,500 a month for a year in this sort of scenario.
Additional information
Aviva’s Mr Dalgliesh adds: “Advisers should be mindful not all children’s cover is the same, and some providers have not only taken steps to broaden coverage but also to increase the amount payable.
“If children’s cover is relevant to customers, advisers should know which providers offer the most generous and flexible cover.”
Advisers wishing to make comparative decisions between various policies and providers may find it useful to examine third-party information available from companies such as Defaqto, Synaptic, FTRC and CI Expert (which was created by financial adviser Alan Lakey).
It is also worth making sure what benefits your clients have through their employer.
Many companies offer a group life scheme, and some may also provide PMI, but as FTAdviser has reported previously, not all employers communicate their benefits packages effectively.
simoney.kyriakou@ft.com
