View more on these topics

Protection? The old ones are best

Steve Payne

As a new generation of house buyers filters through, many advisers feel they need to revise their sales techniques to keep up with their clients’ differing tastes.

Now, more than ever, it is vital that we educate young homeowners about the need for protection insurance. But perhaps we are better sticking to the basics to communicate this.

Much like jokes, when it comes to sales techniques, the old ones can be the best. The traditional sales analogy asks: if there was a machine in your client’s living room that pumped out £20 notes every week, would they insure it? They insure their homes, they insure their mobile phones, so naturally they would insure something that churned out money in this way. That machine is representative of your clients. If they can visualise their income in this way, they may well find that they are more inclined to protect it.

Ultimately, life insurance, income protection and critical-illness protection can all be quite scary sounding things. They needn’t be. If the younger generation of house buyers can grasp how important protection insurance is, without being frightened off by talk of serious illness, they are more likely to take the necessary steps to protect what is important.

Adapting to clients’ differing needs is important in protection sales, but the message has remained the same over the years – it is important to adequately protect yourself and your loved ones should you be unable to work through illness and taking out protection insurance can help you to do this. How you communicate that to your clients is entirely up to you, but, in my view, the old ones can still be the best.



In my opinion

After dramatic credit crisis decline came a steadily building recovery in buy-to-let mortgage volumes with the outlook now positive.

Thousands more jobs at risk at HSBC

Up to 5,000 jobs may be at risk as part of HSBC’s $1bn (£662m) savings plan, according to a report in today’s Financial Times.

Countrywide IPO offer price sets £750m market cap

Countrywide has set the price of its initial public offering at 350p per share, valuing the company at £750m, with the flotation expected to generate gross proceeds of £200m.

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


News and expert analysis straight to your inbox

Sign up