Buying property top trigger for taking out protection policy
Mon, 07 Mar 2011
Purchasing a home is the number one trigger for consumers to consider taking out some sought of protection insurance product.

A survey of financial advisers by Scottish Provident found that 92 per cent state that getting on or moving up the property ladder is the main reason why clients seek to take out products such as income protection, life insurance and critical illness cover .

This was followed by having children (80 per cent) and a general desire to gain peace of mind about the future (57 per cent).

Susan Barclay, head of marketing at Scottish Provident, said that most people only consider protection products following a major life event.

"However, while we all hope the worst won't happen, consumers often need protection when they least expect it so it's vital they are prepared for the future regardless of their current situation," she added.

Scottish Provident is the UK protection arm of financial services provider the Royal London Group.
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