Scottish Provident family protection demand increases

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Scottish Provident family protection demand increases

Thu 18th Feb 2010

The number of people seeking to take out family protection policies is on the increase, according to Scottish Provident.

A fourfold increase in the number of people looking to take out the protection for their loved ones has been experienced by the provider recently.

It believes that this is down to more people becoming concerned about the future income of their families if they become critically ill and are unable to work.

Susan Barclay, head of marketing at Scottish Provident, said: "Our family income benefit plan will provide a steady income to pay any remaining mortgage and provide a family with the finances they need to help create a clear budgeting plan."

Families who do receive a payout from the company get the money in monthly installments, rather than a lump sum, which Scottish Provident states can be difficult to manage.

Consumers may also be encouraged to take out critical illness cover with Scottish Provident following the news that it was awarded five stars by Defaqto for the fifth year running.

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