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Consumers more receptive to cover

Everyone keeps looking at the negative impacts of the recession on the economy, but what about the impact on the public?

Every time I turn on the news I see money-saving tips to help consumers survive the downturn and move away from the old attitude of spend to save.

The increased focus on ways to save money and organising finances should have a positive impact on protection over the coming months and years.

But when will it happen? If recent Confederacy of British Industry figures are to be believed, the economy will see positive economic growth in Q2 2010.

Data from the Council of Mortgage Lenders may give more reason for optimism. CML figures show that in February this year there were 24,330 house purchases compared with 23,400 in January – a 4% increase worth £3.1bn, showing that everything is not lost.

I hope these figures will brighten your outlook and increase the opportunities to sell protection.

Clients currently taking out new mortgages are experiencing the worst economic conditions since the 1980s, so they will be more tuned in to the benefits that protection can offer them.

All you need to do is ensure you are in the best position to exploit these opportunities when they arise. Plenty of online training is available to help improve your selling techniques, generate leads and get referrals from your clients.

The worst economic crisis of our time could be the call to action that you need to sell more protection.


Borrowers face a tough decision

I’m sure it did not come as a surprise to many industry experts that the Bank of England held the base rate at 0.50% this month.


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