Life Insurance  

Advisers urged to change how they talk about protection

He added: "It is therefore important to remember why some brokers focus on certain elements of the protection needs of a client. While many will concentrate on say inheritance tax planning or mortgage protection, all they are effectively doing is prioritising on behalf of the client.

"In an ideal world, all clients would prefer to have all the risks mitigated, but this isn’t typically affordable. Couple this with many having to stretch their budget to be able to purchase their homes, a difficult conundrum is presented and needs have to be prioritised.

"Something is always better than nothing and [focusing on mortgage protection] is a fantastic way to start a conversation and help to build a client's knowledge over time. Education is key and the more people that have a better understanding of the options available, the smaller the protection gap is likely to be."

imogen.tew@ft.com