Introduction
The reason is that, becuase protection is exempt from the Retail Distribution Review, advising on these products could help advisers to manage their cash flow as they adjust to new regime. In English: advisers can still take commission.
However, no-one want a rush of advisers to move into this space without sufficient product knowledge and just a focus on price rather than adding value for clients. Moreover, any movement of advisers into this space may also be prompted by - and will almost certainly help to mitigate - the ever increasing ‘protection gap’ in the UK.
This guide aims to examine the array of policies on offer, the effects of new regualtion, how to tackle the subject of protection with clients and how to pick the right policy.
Answers supplied by Peter Le Beau, co-chairman of the Income Protection Task Force, and Mark Jones, head of protection at LV=.
