Today is all about Total and Permanent Disablement Insurance - as that's what I'm talking about at the IFA conference. Someone obviously gave me the subject because otherwise I would draw too many people ;-)
I heard a business development manager for a major insurer say to me yesterday that advisers won't sell TPD because, they say, 'no one ever gets a claim paid.'
So multiple choice questions: Thinking about how likely a TPD claim is relative to a claim under a life cover benefit is it:
a) about half as likely
b) about the same
c) about 50% more likely
What is the profit experience for insurers on TPD?
a) they make loads of money
b) It is moderately profitably
c) they are just at breakeven
d) they lose loads of money
I will post the answers tomorrow.