Protection Update - Issue 101
Family protection - an opportunity in a difficult market
If you’ve been searching for new opportunities to maximise your income in this difficult mortgage market, then perhaps family protection could help fill the gap.
With the current shortfall in mortgage proc fees¹, the availability of mortgages being limited² and house purchases down, now is the ideal time to supplement your income with family protection.
And think about the peace of mind you’d be helping to give your clients. Consider how their lives and the lives of their family would be affected if they were to have an accident, become critically ill or die. Even if they have mortgage protection to take care of the mortgage, that won’t help cover their ability to bring in an income, or to pay for everyday bills, food, clothing or transport.
Family protection fills the gap. It can help make a big difference in a difficult situation.
Support to help you write business
To help you highlight the importance of family protection to your clients, we’ve developed a support pack which includes:
- Adviser guide – outlines the opportunities available, the importance of family protection, how key life events could affect the sale and how to understand your client’s needs.
- Adviser sales cards – cover topics such as the financial planning pyramid, how to sell yourself and handle objections, sales tips, product summaries, case studies and more.
- Customer guide ‘There’s no such thing as the average family’ - looks at the five main life stages in detail, illustrating the need for protection at each stage and providing realistic case studies.
- Customer flyer ‘Protecting your loved ones’ – explains what family protection is and highlights the importance of having it.
- Customer flyer ‘There’s more to your family’s life than the family home’ – presents an example of two families, one with family protection and one without. It highlights the potential consequences of not having family protection and the benefits if you do have it.
For more information on family protection please visit our dedicated family protection website. Alternatively, you can call us on 0845 273 0010 (we may record and monitor calls, and call charges may vary).
Notes:
- Council of Mortgage Lenders.
- Moneyfacts.
- Based on £150,000 level term assurance with critical illness cover for non-smoker, 40 year old male over 20 years. Commission would be £1436.73. Correct as at 5 September 2008.
