1. The Opportunity in Group Risk
Good morning
Many thanks to SBG for the chance to speak with all of you today.
My name is Hélène Gullen and I have been in the group risk industry for over 15 years, but never have I seen such interest and growth in our market it is a great time to be realising group income protection as a growth opportunity. The Group Income protection market has grown over the last 2 years by 8.7% and 6.2% respectively.
How many of you here today have your own business? Throughout this session, keep your own business situation in mind..
What keeps you awake at night?
Keeping up with employment law?
Do you wonder how you would manage if your staff didn’t turn up for work tomorrow?
What if one of them suffered with a mental illness and struggled to work – how would you manage the situation?
Think about your needs
If you are an employee think about how you and your family would cope if you were taken ill today, where would you turn for help?
And in the back of your mind, think of the growth you could realise for your business with your existing clients, let alone new prospects.
Just one caveat – whenever I refer to we in today’s presentation I mean the group risk industry.

2. An Introduction to Unum
We are Unum (pronounced YOO-NUM) and we’re one of the UK’s leading financial protection insurers and have been for over 40 years
We insure:
47 of the FTSE 100
1.6 million people in the UK
As at the end of 2013, we paid:
£320 million in claims
more than £6 million a week in benefits to our customers – providing security and peace of mind to individuals and their families.
We have a financial strength rating, Standard and Poor rating of A- (Strong)
But first, for those of you who haven’t worked with us yet, we are YOO NUM we get called un-um, oonum but I don’t mind what you call us – just call us!
We have been working with brokers in the UK for over 40 years and have much to offer you
to help grow your business through group risk sales and consultancy.
We specialise in providing Income Protection through the workplace, and are committed to helping the UK’s workforce get a back-up plan
We work with organisations of all sizes - we are trusted by almost half of the FTSE 100 and hold almost 5000 policies for companies with less than 10 lives

3. Disclaimer The following presentation:
Has been designed for a Broker audience with knowledge of financial products and nothing from it should not be used with customers or as a sole basis for making decisions on selling products Uses examples to demonstrate products, but these are for illustration purposes only, for actual customer illustrations please contact your group risk provider Terms and conditions apply to all Unum products highlighted in this presentation and they may differ from provider to provider and overtime Unum is not authorised to give advice. The material contained in this presentation applies only to Unum and its products. Whilst we have taken all reasonable steps to ensure that the information within this presentation is accurate and up-to-date, we cannot accept liability for any error or omissions. Unum Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
This presentation is designed for a broker audience
Any examples are for illustration only
Terms and condition apply
Unum is not authorised to give advice
We are authorised by the PRA and regulated by the FCA

4. An Introduction to Group Risk – Learning Outcomes
By the end of this session:
You should be able to talk to your customers about Group Income Protection and overcome many of the objections that employers may have about Group Risk products. This session will also give an insight into the opportunities of selling Group Risk products on the back of Auto Enrolment as well as highlighting some of the benefits of selling Group Risk from the adviser viewpoint.
By the end of this session
You should be able to start a conversation with your customers about Group Income Protection, identify their needs and overcome many of the objections they may have about Group Risk product and realise the opportunity that AE presents to engage with your clients about their benefits package.

5. What is Group Risk?
Group Risk is an umbrella term for three employer sponsored benefits:
Group Life
Critical Illness Cover
Group Income Protection and Sick Pay Insurance
These products give employees access to preferential terms over and above individual cover they could buy themselves:
Cover is available where there are pre–existing conditions
Little or no medical evidence required
Reduced rates due to spread risk
we sell all the products under the group risk umbrella - Income Protection, Critical Illness cover and Life Insurance.
The key advantages to employer paid policies are in the cover available and the convenience:
Have any of you got any clients you have been unable to get income protection cover for? Why was that?
With Income protection, where an individual may have suffered from or still have a health problem in past e.g. a heart attack or diabetes, providing they are working they can get cover.
For example if you have a company director who has suffered from high blood pressure and has been refused cover on an individual policy if they get a group policy for themselves and their 9 employees they would typically get a free cover limit of the lower of £30,000 or 10% payroll with no medical requirements beyond being actively at work on the day cover starts. Any benefits above this would be underwritten and he may well get the further cover despite his previous medical condition.
Once and Done medical underwriting above 20 lives

6. UK lags behind other developed countries in Protection Index
We are not well placed in the global context of protection in other developed countries, we in the UK trail behind many of our neighbours, this index combines both the level of private cover and state protection.
Definitions
Replacement ratio
Ratio of income before unemployment to benefits in unemployment that a person is eligible for as a percentage
State benefits
Per annum benefits available to an unemployed single person, with no children, on 100% of average wage for private sector
Unemployment levels
Number of labour force unemployed which is set at 8% (average of selected countries in 2009)
Labour force
Number of people actively in employment or seeking employment
Total A&H premium (adjusted) and pecuniary loss insurance
Total value of accident and health insurance premiums if countries have a level of public health expenditure equivalent to Germany (in millions) and total value of pecuniary loss expenditure
Public expenditure on health (%)
Proportion of expenditure on health that comes from the public purse
State protection
Total state expenditure on unemployment-related benefits divided by size of the labour force
State protection index
Level of state protection as a proportion of the state protection in the most generous country
Private protection
Total value of A&H premiums divided by labour force
Private protection index
Level of private protection as a proportion of the protection in the country with the highest A&H (adjusted) and pecuniary insurance expenditure
Total protection index
An index of the average state and private protection index
Source
Demos (2011) Of mutual benefit - Personalised welfare for the many
Summary – page 29-30
Table – page 44
Sources Demos (2011) Of mutual benefit

7. UK Group Risk Market – The Opportunity
19 million
full time employees
19 million
full time employees
Potential clients
8.5m 2m
So what is the size of this opportunity?
Is there really a market?
In the GIP market 2/3rds of employees in the private sector work for companies who have an income protection policy (Swiss Re Group Watch report, 2013) but only insure a few employees – the opportunity there is to discuss covering more staff, after all are the people they are covering the most likely to go absent? No they are more likely to be the senior staff who are less likely to take time off due to ill health and generally have more wealth to be able to cope. The remaining third of employers have no GIP cover at all.
So where should you look – large or small companies?
Well all sizes present an opportunity – at the small end of the market very few companies have a policy at all so there is a large potential to write new to market business. At the larger end of the market most companies have a policy but very few cover all employees so, they have bought the concept of Income protection but have many employees not covered – a growth opportunity
So you can see there is a significant opportunity even the Group Life market is less than 50% penetrated.
Insured
Insured
Employee coverage for GIP
Employee coverage for GL
Sources:
DWP - Labour Force Survey, June 2014
Swiss Re Group Watch report, 2013

8. Where to focus Who needs cover the most?
Who will come to you for advice?

9. UK Private Sector income profile- The RDR effect
6.9%
Those with incomes less than £20/25K, depending of course on their broader financial situation, may be able to survive on state benefits – if they qualify.
Those with incomes greater than £52K may well be your clients? This group may well have income protection as you may have recommended it, or as part of their benefits package as a company leader. But of all the groups, if the worst happened and they couldn’t work they could probably survive on their savings, investments and pension.
Those with incomes between around £25K and £52K, have the greatest need, many with high dependency on their income to service liabilities – mortgages, family expenses, school or university costs, insurances, loans – those for whom the state benefits – were they to qualify – would not come close to retaining their lifestyle – going from say a net income of £3K a month to £400?
But not many of this group are seeking financial advice from you and the effects of RDR will probably not encourage more to come to you.
BUT they may well work for companies whose leaders could be your clients?
State benefits may replace lost income
‘Squeezed middle’
High dependency on income
High outgoings limited savings
High Income, Savings and investments
Source: DWP (2014) Households Below Average Income

10. From Personal to Group
Many high-net worth clients already taking advice will be company
owners or hold high level positions
They have access to key decision makers within the company
Their concerns are likely to include: -Competition in the talent market
-Business continuity
-Risk management
You could be making the most of your current relationships to:
-Close the protection gap
-Bring greater value to your clients
-Improve return on client
-Improve client retention
So many of your clients may have an interest and influence in their company’s benefits. You could be helping them to close the protection gap for their staff and their business, helping avoid staffing issues while improving your client retention and return.

11. AE – How Group Risk can help employers and complement the pension scheme
For many businesses, Auto Enrolment (AE) changes their relationship with their workforce. This provides the opportunity for employers to review their benefits packages and strengthen their businesses in the process.
Pension Contribution Cover is the liability taken care of if an employee is unable to work Life Cover for dependants should their loved one not survive long enough to secure a good pension Income for employees to continue to fund their own contribution to their pension when the worst happens and they cannot work EAP/Legal services to support both employer and employee through difficult times
Whether or not AE provides an opportunity or a distraction for Group risk and the broader benefits review has been much debated since we first heard of AE, some say it is the greatest opportunity and has opened up the employer market to broad benefits reviews. Others say it will prove a distraction and employers will not have any budget left to buy other benefits. Those with the more positive frame of mind seem to be reaping the rewards and as I mentioned earlier the market is growing, those in the more negative camp are not doing so well. It seems to be a self fulfilling prophecy – make sure you make the most of AE before your competitor does!
Auto enrolment provides an ideal setting for reviewing a clients ambitions for their business and how they engage their employees to support them – the support and benefits they provide can play a big part in differentiating them in their market
We want to show you how GIP fits into the bigger picture, how it can protect pension contributions and can provide service and support to the employer to manage absence.
Pension Contribution benefit – When this option is included in the gip provision, this relieves a financial burden for the employer when an employee is not working yet remains on the payroll.
With no GIP cover, not only will the employee suffer financially while unable to work but if they are unable to contribute to a pension, the financial impacts will be felt well into the future and post-retirement, regardless of whether or not they are ever able to return to work. If employers and brokers believe that pensions are the most important employee benefit they offer, they must acknowledge this correlation and risk.
QUESTION
So what are the priorities regarding the group risk products? What would you start with?

12. 119,000 working age people are diagnosed with cancer each year3
The need - Incapacity and death figures during working life
You are 3 times more likely to be off long term sick in your working life than die1
Each year, over 300,000 people fall out of work onto health-related state benefits – 11% of the workforce2
119,000 working age people are diagnosed with cancer each year3
35% of year olds and 39% of year olds report having a long standing illness4 2. 3. 4.
Every year 11% of the workforce fall out of work and onto health-related state benefits
You are 3 times more likely to need income protection than life cover during your working life and not only that but
Sickness absence is an increasing issue for employers as we age we are more likely to suffer a longstanding illness.
Regardless of age more than a third of us will report a limiting longstanding illness
Sources:
ONS (2013) Business populations report; Swiss Re (2012) Group watch report
DWP (2011) Health at work – an independent review of sickness absence
Macmillan Cancer Support (2013) The rich picture on people of working age with cancer
ONS (2012) Adult Health in Great Britain

13. Affordability Availability Accessibility Acumen
Simply put, the best way for people to get Income Protection is through their company
Self
Thru work
Affordability Availability Accessibility Acumen ?
The best place for the majority of those who need income protection is in the workplace for at least 4 good reasons
Affordability
Availability – free cover limit and cover for impaired lives
Accessibility – access to advice – most people do not have a financial adviser – how do you get to these people – how do they make sure they get it right?
Their employer will be using and adviser and have a duty of care to their employees. – We’ll mention this again shortly
Acumen – if the normal person in the street were to try and research IP for themselves it wouldn’t be easy, where would they look? But again their employer will have used and expert be it HR or an adviser.  ?

14. Common Practice Life = 4 x salary Future State Life = 2 x salary + IP
Still, there is an imbalance in employers’ current emphasis on Group Life over Group Income Protection
Common Practice Life = 4 x salary
Future State Life = 2 x salary + IP
Life
Life
GIP
Basic life coverage (1x - 2x salary)
Essential GIP coverage
More GIP solutions to meet all budgets
Life coverage which is too rich (4x life plus dependent)
No GIP coverage
How will employers pay for it? Are their benefits balanced for their employees needs?
Employers are funding life coverage at a high replacement ratio and not offering GIP because they are not aware of it or believe it is too expensive
However, Employees need GIP more than Life coverage
You can help employers to look at packaging benefits in a smart way which will provide better benefits to their entire workforce
With a lower level of Life cover – and a basic level of GIP
Incapacity is 3 times more likely than death during your working life1
1Source: ONS 2009 (2007 data), Unum Analysis 14

15. Benefits from Life Only
Value of Income Protection – Achieving balance with Group Income Protection
The Return on Investment for an employer comparing spend on Life only with the same spend spread across Life and Income Protection
Benefits from Life and Income Protection
Life and Income Protection
Employee
Peace of mind
Dependants provided for
Financial support when sick
Return to work support
EAP everyday support
Benefits from Life Only
Life Only
Employee
Peace of mind
Dependants provided for
Employer
Recruit and retain
Expert absence management
Return to work expertise
Rehab support
Third party validation
Certainty of cost
All employers have legal responsibility under the Health and Safety at Work Act 1974 and Management of Health and Safety at Work Regulations 1999 to ensure the health safety and welfare at work of their employees. This includes minimising the risk of stress-related illness or injury to employees.
Directors
Monitor factors that might suggest there is a problem with stress-related illness in the business, for example, high rates of absenteeism, staff turnover, poor performance, conflict between staff
Employer
Recruit and Retain

16. The myths Group Income Protection
But when you talk to employers about Group income protection what is their response? How can we over come any objections….

17. Mythbusters
Myth 1: Income Protection is for a few Reality: It’s the single most important insurance one can get Without your income, you can’t pay for your outgoings Other insurance policies will soon lapse if you don’t have the money to pay the premium
Myth 2: Employees don’t value it
Reality: You are 3x more likely to have a long-term illness than die in your working life1
They don’t know about it - but
On average over the last 10 years, 2.6m have been off work >6 months and claiming benefit – 1 in 10 of the workforce
Senior employees most likely to continue to work – on their ipad in their hospital bed, have the flexibility to work from home if necessary and take very little time off.
If the worst happened they would cope. Greater impact on the business is the middle income ‘doers’ their absence can have an immediate effect on productivity – relationships suffer and production down as well as staff morale.
Myth 2
They don’t know it exists, we have been working hard as an industry to raise awareness of the need for income protection – you may have seen our ads and social media campaigns. And now the market is growing.
1Source: ONS 2008

18. Mythbusters
Myth 3: It’s too expensive Reality: CEBR research1 quantified an average return of 48p for every £1 of Income Protection plus 28p/£1 corporation tax GIP covers salary costs (up to 80%) Return to work support reduces loss of productivity and temp costs Frees up HR time and effort
Myth 4: The State will provide
Reality: People receive very little from the State
Typical: ~£5,200 per year2
Severely disabled: ~£11,000 per year3
Very rare cases: ~£34,000 per year3(severe work related disability, poverty, many dependents, and the need for full time care)
Myth 3
48p direct return
Much more in indirect costs – morale, productivity etc
Plus 21p Corporation tax
The obviated need to pay long-term absentees occupational sick pay beyond the GIP policy’s deferred period. In other words, beyond 27 weeks (the typical length of deferred period) the insurer, rather than the insured company, pays the salary costs of the long-term absentee. This is the largest source of GIP dividend
Savings on salary costs of replacement staff because the long-term absentee is returned to work more rapidly in the GIP world.
b. Productivity savings because the long-term absentee is returned to work more rapidly, reducing the time in the job of less productive replacement staff.
c. Savings on the recruitment and training of replacement staff because the long-term absentee is returned to work more rapidly.
Savings from reduced absence management, which is now largely outsourced to the GIP provider.
b. Savings in recruitment and training costs associated with improved staff retention rates, due to a ‘happier’ workforce that feels protected from unforeseen events and is, therefore, less likely to want to leave.
c. Savings due to reduced red tape and legalities, because disputes would now be referred to the GIP provider.
We mentioned earlier for most workers the state provision won’t even come close to protecting their lifestyle, many won’t qualify and they are assessed against household income not just the individuals income. In addition the main disability benefit – employment and support allowance will be ceased after a year for many and require a reassessment to continue.
Sources:
CEBR, 2014 The benefits to private sector employers from the adoption of Group Income Protection as an employee non-salary benefit
DWP, 2014 (Based on weekly rate of ESA) Tax and welfare benefits can change. Further info available from HMRC
(2014)

19. Sick Pay Insurance
Your small business clients may be looking for cover for shorter term absence – we have a new product for them – Sick Pay Insurance

20. Sick Pay Sick Pay Insurance Long-term Protection
Sick Pay Insurance bridges the protection gap
Sick Pay
Sick Pay Insurance
Long-term
Protection
Kicks in within first 4 weeks of absence Benefit payments range from 12 weeks to 52 weeks Meaning that you can choose benefit payments to complement existing arrangements
There is a new product from Unum to bridge the short term absence gap – SPI which can cover from week 1 of absence and fit in with a longer term GIP policy.

21. Absence Rates
Number of Employees:
Most employees go back to work within a week, but a surprising number remain off work for longer than 8 days
Source: CIPD Sickness Absence Report 2013

22. Sick Pay Insurance
Sick Pay Insurance covers the cost of short-term absence
Supplements Statutory Sick Pay (payable up to 28 weeks)
Replaces Occupational Sick Pay arrangements
Consistent third party validation of absence
Ensures Duty of Care obligations are met
Easy, online absence tracking and submission
Key benefit for employers include
smoothes the volatile costs of sickness absence with a set monthly premium and needn’t cost more than they already pay out in cover for sick staff members
• offers professional claims management support, allowing them to flag non-work related claims and validate claims through independent, evidence-based expertise
• is designed to complement their business’ existing sick pay scheme, no matter what its design, and can dovetail perfectly with long-term Income Protection plans to give complete peace of mind

23. What do Sick Pay Insurance and Group Income Protection offer employees and employers?23

24. Employer Hierarchy of Needs
Staff
morale
Health and wellbeing
Recruitment and retention
Risk management
Business continuity
How can GIP help?
Group Income Protection (GIP) provides a continuing income for employees if illness or injury prevents them from working
Business Continuity
Financial impact for the company is reduced
Pay direct and Dual Benefit; enable to plan ahead and could fund temporary staff
EAP; legal, compliant saves time and money or a prolonged period of time. 
Risk Management
Consistent process; less chance of discrimination claims
3rd party validation; rehab and claims, consistency of decision
Fixing costs removes volatility from cash flow
Attract and retain staff
important benefit to attract/retain quality staff – caring employer
Improves the reputation of the company; keep up with peers and competitors in the market place
Could be seen as more desirable than the annual pay rise
Health and wellbeing
RTW support, sustained, easy and accessible
EAP information and support for home, work and health and family issues
Support and information for employers on Legal, Regulatory and Legislative issues
Staff Morale
Staff feel valued and see colleagues being supported
Gives staff security knowing they will be taken care of financially should the worst happen
Dual benefit can pay for temporary staff relieving the burden from colleagues 24

25. Conversation starters
Questions you should ask employers:
Tell me about the benefits you provide
How do these benefits fit with your business needs?
How do you keep up to date with the latest employment law requirements?
What do you do if one of your employees goes off sick?
How does this impact your business?
What are the nature of the absence problems?
What are the likely causes of the problems?
What steps are likely to be most effective at addressing the problems?
How do you prevent the problems from recurring?
How would you feel about a solution to better balance benefits?
A starter for 10 is to simply ask about the benefits they currently offer. Then you can follow this up with asking how they fit with their needs. By now you start to get more of an idea about the company and their needs as potential purchaser of a Group Risk product.
If they are responsive you can start to pry a little deeper about how they operate such as how do they keep up with the latest employment law or what do they do if someone is off sick.
These can be followed up with asking them the impact absence has on the business. By doing this they will probably be forthcoming in the type and causes of the absences.
Once you have this information you can try and find out how they address these problems and stop them from occurring in the future. At this point it is probably a good time to ask them their thoughts on a cost neutral way of helping with their absence management.

26. Tailored Cover for Differing Needs
Options for all budgets
80%
65%
50% 0%
Classic
Paid to State Pension Age
80% of salary
Increasing Cost to Employer
Capital option
5 year payment term
65% of salary
Lump sum to cover settlement
Percentage of Salary Paid
Sick Pay Insurance
1 day to 4 week deferred period
50% of salary
Typical payment period 22 weeks
Unum and other providers now have a wide range of features on their income protection policies which mean they can be tailored to suit your clients needs including integrating them with their current sick pay arrangements, from the level of their statutory sick pay responsibilities through to 80% of salary replacement until pension is payable and to suit a wide range of budgets.
Day Wk 4 Wk Yr 5 State Pension Age
Time since 1st Day of Absence
Terms and conditions apply. Cover depends on policy.

27. Employee Assistance Programme
Employer
Employee
HR and Manager Helpline
Absence Management Support
Legal Advice
Creation of Employment Contracts
Help with Duty of Care obligations
Practical, Confidential Information
Support for Work / Life Issues
Face to Face Counselling Sessions
Blended Cognitive Behaviour Therapy
Support Guides and videos
All income protection policies come with these additional services providing hugely valuable everyday benefits for your clients be they large or small. 27

28. What’s in it for employers? – reasons to buy
Financial
Protection
benefits for
employers
Financial benefits
For employer and
employee
Visible, valuable
employee benefits attract
and retain talent
Free legal guidance
For employer
Legal documents
save £££’s
in legal costs
Support for
employer’s
Duty of Care
Expert resource
to help manage and
reduce sickness
absence
Increased
productivity/
profitability
Return to work planning and management
So why would an employer want to buy income protection?
And of course – what’s in it for you?

29. What’s in it for you?

30. Examples of Group/Personal Income Protection
Personal Income Protection
Group Income Protection
Illustration based on
45 year old business owner
Income £60K
Benefit of 50% of salary (tax free)
Cover to 68
26 weeks deferred period
Small business – 10 people
Total salary roll of £542,000
Benefit of 66.67% of salary (taxed through payroll) RPI 2.5% cap
Cover to 70
Max Benefit
Max initial benefit up to £250k per year or up to 50% of gross earnings
Max initial benefit up to £350k per year or
up to 80% of employee’s gross earnings
Access to cover
Requires full Medical Underwriting
Free Cover Level (FCL) ** £70,000 benefit
(Once and Done >20 lives)
Pension Contributions
No cover
Can be covered up to lower of 1/3 of salary or £120k
Assistance Programme included?
Personal
Personal and Business
including line manager, business legal and documentation services
Typical annual premium*
£1118
£5594
Annual Commission
Option 1 : 130% of Lautro, 3.25% renewal
Option 2 : 21% level*
£234.78*
12-20% level
£671 - £1119
Here’s an example of a comparison between an individual and group policy
The individual on the right assumes ordinary rates and no medical issues – if you have any clients with impaired lives this could easily double or worse you may not be able to get cover.
Member Date of Birth Sex Cat
/ANB Salary (£) Benefit (£) Supplementary Benefit (£) Annual Premium (£)
05/06/1983 M 1 42,450 28,
15/12/1968 M 1 65,000 43,
22/08/1971 M 1 90,000 60,
06/02/1949 M 1 40,000 26,
26/05/1975 M 1 42,750 28,
01/04/1980 M 1 65,000 43,
29/12/1953 M 1 40,000 26,
12/12/1972 M 1 48,000 32,
06/11/1957 M 1 70,000 46, ,380.64
12/04/1991 M 1 39,000 26,
Designs, markets, manufactures, innovative products for use in broadcast, distribution, live event and production applications
Location southeast
* Illustrative costs will differ for companies with different demographics and benefits
** Guaranteed level of cover for all members without Medical Underwriting, benefits over FCL will be subject to medical underwriting
Terms and conditions apply

31. Group Income Protection Commission Table
Timeline
Premium*
12%
20%
Year 1
£10,000
£1,200
£2,000
Year 5
£10,824
£1,299
£2,165
Year 10
£11,950
£1,434
£2,390
£100,000
£12,000
£20,000
£108,243
£12,989
£21,649
£119,509
£14,341
£23,902
£500,000
£60,000
£541,216
£64,946
£597,546
£71,706
£1,000,000
£120,000
£200,000
£1,082,432
£129,892
£216,486
£1,195,092
£143,411
£239,018
Here are sample commissions based on a variety of portfolios and levels of commission – if you approach existing clients and look at how you by using Group risk products you can increase the return on each of them you can see how you can grow your business without even looking at new prospects.
Did you know that the GIP market has grow 8.7% and 6.2% respectively over the past 2 years (Swiss Re Group Watch Data, 2014) – and that after many years of no growth at all – the lean times of the past 6 years or so have emphasised the need for protection and many are seeking to put cover in place – if you don’t talk about it with your clients someone else will. We at Unum have written x new to market policies comprising x% of our sales in 2013 and meaning another x000 people in the UK have a back up plan.
Executive commission
Option 1 : 130% of Lautro, 3.25% renewal Option 2 : 21% level
Commission rates of 20% may mean an increase in the annual premium paid
*based on a 2% salary roll increase

32. What’s in it for you? – Reasons to sell
Helps defend
core business from
competitors
Increase client
retention/loyalty
Benefits to
working in the
Financial
Protection
market
Additional income
through offering
additional services
Further contact
with clients
Good fit with
core business
Develop a
broader holistic offering
Help corporate
clients to cut costs
Lower cost of
sale by targeting
existing customers

33. Summary of Group Risk Key facts to take away:
Group Risk comprises of 3 key products:
Critical Illness - Lump sum in event of certain critical illnesses
Income Protection - Proportion of salary after a deferred period
Life Insurance - Lump sum on death
Group protection is easier and cheaper to quote for than personal protection due the risk being spread thus reducing the requirement for medical underwriting
Employers get a greater return on investment with income protection than life cover
Large potential market in the UK, especially for income protection
Many thanks for listening today, I would urge all of you who see group risk as an opportunity for you to grow your business to get in contact with us as we have a wide range of support to help you get up and running, from face to face consultancy in your region, through our network of regional offices to a wealth of materials both online on our website and in social media as well as in print. We can help with prospecting, training and much more.

34. Handset question Yes please call me - I write group risk already
Would you like us to contact you?
Yes please call me - I write group risk already
Yes please call me – I have business clients but don’t do group risk
Yes please call me – I would like to know more
No thanks

35. Many thanks for your attention
If you require any assistance, please contact: