Why your clients aren't buying life insurance... and how you can change their minds

clock

Charlotte Richards looks at the reasons why the protection market is struggling to grow and reveals how advisers can increase client uptake.

Life insurance has been a relatively slow burner among consumers. In its first Retail Conduct Risk Outlook published last year, the FSA said although there is a trend towards longevity among the UK population, the life sector still “faces challenges”. The biggest challenge, according to the regulator, is that consumer perception of some life products has been negatively affected by pension and endowment mis-selling. Despite this, LV= announced last week it had paid out 100% of its life insurance claims in 2011, roughly £28m. Les Conway, director and financial adviser at Essentially...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Wealth manager has partnered with charity Sporting Wellness

Professional Adviser
clock 03 May 2024 • 1 min read
Adviser guide aims to 'demystify' Consumer Duty annual reporting

Adviser guide aims to 'demystify' Consumer Duty annual reporting

Firms to produce first annual Consumer Duty board report

Sahar Nazir
clock 02 May 2024 • 1 min read
Behavioural coaching a 'tough sell' among prospective clients

Behavioural coaching a 'tough sell' among prospective clients

‘Clients overlook major sources of value from advisers’

Isabel Baxter
clock 02 May 2024 • 1 min read