Dropping in on the Spencers

After being introduced at the start of 2017, AIG’s Spencer Family has been helping advisers show clients real-life protection scenarios. The fictional family spans four generations and has already been used to show how the different types of protection can help a diverse range of people and circumstances.

Not only has it helped advisers explain how different products work, it has also showed the impact a lack of cover has on the individual and those around them. Here are just a couple of members of the Spencer Family:

Thomas Hale, 47

A fit and healthy football fanatic, Thomas Hale is a doting father and loving husband to his wife Claire. One evening, returning from work, Thomas is involved in a serious car accident. This results in injury and not being able to work for a number of months. Surgery was required, which meant taking further time off to recover fully.

Without protection in place, this would have resulted in the family relying on a third of their previous income as Thomas’ employer provided no cover. Fortunately his adviser was aware of the importance of protecting his client’s income and had recommended AIG’s income protection, which provided Thomas with the financial support he needed.

Audrey Spencer, 63

Running a florist business and married to Ian, successful director of a pharmaceutical company, for 40 years, Audrey Spencer felt that their financial position was as strong as it ever needed to be. Then one day it all changed when Ian was diagnosed with multiple sclerosis. This resulted in Ian retiring earlier than expected and Audrey had no choice but to sell her florist business and become Ian’s full time carer, which neither of them expected would happen. 

The money that was previously earmarked for enjoying retirement was spent on alterations to the home to help Ian move around. It then became clear that Audrey had to plan for the event that she was not able to look after Ian. This scenario has helped advisers show the benefits of family income benefit and to highlight that a family’s costs don’t stop when the mortgage is paid off.

We take protecting your finances seriously, so talk to us today about your plans for the future and how best to secure your income.