Just over 30 per cent of UK households have any life insurance, which is less than half of the proportion who have bought home contents, motor and building insurance.
This creates plenty of opportunities for advisers, who can enlighten clients to the benefits of this form of protection.
This guide looks at the pros and cons of life insurance, the variety of products available, the effects of the EU gender directive rules, how advisers can highlight the need for life insurance and address client objections, as well as some tips for the application process.
Answers provided by Michael Owen, director of Brooks Macdonald Financial Consulting; Kevin Carr, chief executive of Protection Review and MD of Kevin Carr Consulting; and Peter Hamilton, head of Zurich UK Life’s protection proposition.