Family Income Cover

Customer profiles

We have recently undertaken segmentation analysis of our Family Income customer base. There is a broad cross section of customer types within the base, but the most common types of profile we have are:
Young families, 25 year old females, 30 year old males, on average incomes of £20 / £25k per annum.
Affluent mid-aged customers 35 to 39 year old male and females, typical income of £35k per annum.
Young families 20 year old females, 25 year old males, on modest incomes of £15 / £20k per annum.

What sales opportunities does this information present?

Wider profiling shows that these customer groups predominantly buy Life Cover and Critical Illness Cover and tend not to focus on other Protection Menu products. However, because these customer types also form the most common segments of our Family Income base it suggests a protection gap might exist for Family Income Cover.

Given the life stage these customers are at, there are a number of relevant questions you can ask to determine whether there is a need for Family Income Cover and thereby maximise the sales potential of our Protection Menu:

  • Are you worried about leaving a lump sum to family?
  • Do you only need cover until your children are no longer dependant on you?

Why not arrange an appointment with your customer to review their needs against their circumstances?

Find out more about Family Income Cover:

  • What's in it for you and your client.... read more button
  • Contact your local Account Manager.... read more button