Protection  

Millions of Britons face financial ruin on bereavement

For example, he cited the case of a client who had been sold mortgage-only insurance in 2014. The man had then contacted Drewberry, which recommended a family income benefit policy to help ensure an income for his wife and children should the worst happen.

Sadly, he was in contact with the advice firm again last year, to inform them he had just been diagnosed with a terminal illness; on this, the policy paid out to help the family.

According to Mr Harvey: "I don’t want to paint all mortgage brokers in a bad light as some do an excellent job but from speaking with our clients, it is clear many brokers are just focused on protecting the mortgage.

"But if you also protect the family and provide them with some financial security, then you are doing a much greater service to your client, which is very important."

simoney.kyriakou@ft.com