Financial resilience has been a key talking point among advisers, providers and regulators alike as Britain finds itself in the throes of a cost of living crisis.
The effects of Brexit, the fallout from the pandemic, rising inflation, exponentially high house prices, eye-watering increases in energy bills and the big tax take in Britons' pay packets from April this year have all combined to put the pressure on household finances.
Insurance premiums may be one of the first things to go as policyholders cut back their spending in light of increasing costs, but as advisers quoted in this guide would state, it is important to remind clients to keep up with their payments.
If clients should become ill and unable to earn, whatever savings and other safety nets are in place will soon be eroded and unable to cover even the basic daily expenses.
This is especially important for the self-employed who do not have any benefit from an employer to take into consideration. This guide aims to equip advisers with the information needed to help encourage clients obtain and retain important protection policies.
By reading this guide, which qualifies for approximately 60 minutes' worth of CPD, you should better understand how to help clients reduce the cost of their policies; gain a better technical understanding of how to help clients protect their businesses; be able to explain the place of family income benefit; and develop conversations around tax savings and additional benefits of certain protection policies.
Simoney Kyriakou is senior editor of FTAdviser