Bright Grey has kicked off a campaign to help advisers grow the protection market by raising consumer awareness and tackling the issue of perceived cost barriers.
Bright Greys Helping Hand magazine has been designed to show consumers the real value of protection and to help advisers increase their protection client base.
The magazine features a case study of a bright Grey plan holder who suffered a stroke and contains a benefits wheel which shows the kind of benefits people could receive with a Bright Grey plan, this includes home visits from a nurse, access to a range of helplines, legal advice and bereavement counselling.
Copies of Helping Hand are being sent to advisers with the offer of more magazines to use with their clients. In addition, as part of this awareness campaign, Bright Grey has designed posters to set consumers thinking about the real cost of cover and help advisers tackle the perceived cost barriers.
More than half the people in the UK do not have enough life cover and many think it costs too much. So Bright Greys posters use everyday examples to help put the cost of protection into perspective. For example buying a coffee an muffin three times a week for a month would add up to 31.20, how much protection could you buy with that?
Susan Sneddon, communications director at Bright Grey, says: Consumers do not yet see protection as a priority. Independent research carried out for Bright Grey shows that while 22% of UK adults insure their fridge freezer and 28% insure their credit cards, just 15% bother to insure the income that helps them to buy white goods or pay off their cards in the first place.
As an industry we have our work cut out for us in terms of educating people about the real value of protection and we are working with advisers to help them get this message across. Our Helping Hand magazine and supporting posters are just some of the communications Bright Grey is producing to support advisers and help them to grow the protection market. We will also be targeting the personal finance media to raise the profile of protection.