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Protection for protection’s sake


After what seems like an age of dwindling house prices and a property slowdown, the housing market is improving.

This is great news for advisers and should bring with it more opportunities to sit down with clients and discuss their protection needs.

During the downturn protection insurance certainly wasn’t off the radar as many advisers switched to the personal protection needs of clients.

And now, as mortgage sales start to increase, advisers will hopefully maintain that momentum and make sure their clients’ lifestyle is protected as well as their home.

Buying a home has traditionally been the point at which consumers consider taking out protection products and for most people having enough life cover to pay off the mortgage is the main focus.

But clients need to be reminded of their own value and what would happen if they had to stop working due to ill health. This means looking at the need to provide a replacement income which would enable a family to survive financially.

In our massively underinsured society protection needs to be promoted beyond the mortgage.

Taking out an income protection product and some critical illness cover means that clients will be protecting themselves as well as their home.

If we want more clients to understand the true value of protection insurance and benefit from having the right cover in place, then considering protection in its own right seems the best way forward.


Mortgage sales surge for Sesame

Sesame Bankhall Group saw a 27 per cent surge in mortgage business for PMS and Sesame in the first half of 2013. The combined group advised on £14.9bn of mortgage applications in the first six months of 2013, a £3.2bn increase on the £11.7bn advised on in the same period last year. SBG managing director […]


Panel managers take a beating

It’s currently a funny place being a valuation panel manager.   Historically, many larger firms sought out this role as it introduced certainty into variable business flows and helped develop strong ties with lender clients.  The model essentially worked because peer firms on the panel were hungry for work and swallowed as much as could be […]

Lloyds Banking Group set to link broker proc fees to quality of business submitted

Lloyds Banking Group will begin linking the procuration fees it pays brokers to the quality of business submitted from the beginning of next year, Mortgage Strategy understands. The group will begin telling brokers what metrics it will use to measure quality by the end of the year. However, the change will only apply to its […]

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