But in the absence of an education at Hogwarts I am pleased to note that the industry has taken some steps to improve the perception of protection in the eyes of consumers.
For instance, last year saw the introduction of proportionate payment of claims as standard. This is a step in the right direction in addressing concerns over whether policies will pay out.
But the fact remains that we human beings don’t like to think about our own mortality. We dread not being able to work due to illness yet too often do nothing to protect ourselves.
This could be why pet insurance is such a big industry. Some of your clients may see the problems that could arise if, say, their dog needs an operation and they fear the thought of huge veterinary bills.
So some individuals protect themselves against such costs while remaining unaware of what might happen if they can’t pay their mortgages or their main family income ceases. Do they realise that their pets may be more protected than they are?
Could you help them to see they should be protecting themselves, and the consequences of not doing so?
By painting a picture for clients with a budget planner you can show them what they stand to lose.
Why not give them the peace of mind that pet insurance brings but through products such as income protection or critical illness cover?