Credit crunch forces advisers to focus on protection
Thu, 14 May 2009
The credit crunch is causing IFAs to focus on the protection needs of their clients as people's priorities change during the financial downturn.

New research from the Personal Finance Society (PFS) has revealed that as a result of the credit crunch, there has been a renewed focus on protection amongst financial advisers and 63 per cent of members believe that the importance of personal insurance has increased as a result of the current economic turmoil.

Fay Goddard, chief executive officer of the PFS, said: "Nearly 1,000 PFS members participated in this research and it is clear that the economic downturn has refocused the attentions of advisers on their clients' protection needs. Our sense of health and mortality inevitably becomes sharper when we are surrounded by financial turmoil, and protecting our loved ones becomes a higher priority."

However, the financial pressures on consumers was also evident in the survey and 67 per cent of advisers agreed that clients were looking to cut premiums or discontinue cover altogether.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Critical Illness Cover

Critical Illness Cover

Protect your family should you become seriously ill or disabled.

Critical Illness Cover
Family Income Benefit

Family Income Benefit

Protect the family income with a family income benefit quote.

Family Income Benefit