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Guide to Protection



    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=.

    In this guide


      Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

      1. What products does the term ‘protection’ cover?

      2. What are the three main areas Peter Le Beau suggests concentrating on with clients?

      3. How does the RDR affect remuneration for protection business?

      4. What figure does Peter Le Beau quote Swiss Re as representing the ‘protection gap’?

      5. When does LV=’s Mark Jones say is important for advisers to discuss protection?

      6. How long does Peter Le Beau suggest it should take to get a ‘reasonable’ policy in place?

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