An online calculator enabling advisers to work out clients' monthly expenditure and determine how much protection they can afford has been launched by Bright Grey.
The protection arm of Royal London says the tool will help advisers kick-start protection reviews with their clients at a time when they may be in search of fresh income streams. Bright Grey says advisers can use the total of their clients’ monthly spend – including on the ‘little extras’ such as coffee and takeaways - and compare it with examples of protection costs for four different life stages: single, couple, family and divorced. Kevin Stevens, head of intermediary sales at Bright Grey, says: “It's quite a shock to see how the things you don't think twice about add up over a month....
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