IFAs urged to promote merits of income protection
Mon, 26 Jul 2010
Scottish Provident is encouraging advisers to better promote the benefits of income protection .

According to research by the provider, during its recent protection roadshows the majority, 89 per cent, said less than 10 per cent of their clients come to them to specifically to purchase income protection products . Also, 22 per cent said between 11 and 20 per cent of their clients originally visited them to purchase another financial product, but then ended up buying an income protection product too. Advisers suggest clients may not take out income protection because they do not see the need, understand it or are aware of the product.

Jennifer Gilchrist, senior product development manager of Scottish Provident, said: "With the majority of IFAs having less than 10 per cent of clients inquiring specifically to buy an income protection product, our new research confirms the need to improve the promotion of income protection products to consumers and raise with them the necessity of this type of cover."
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