22 May 2024

How good is your client’s Plan B?

By LifeSearch

You know that sourcing and arranging a mortgage for your clients can be time consuming, frustrating, and complex. Yet, when they get that ‘yes’ and hold the keys to their new home in their hands for the first time, it’s all worth it.

Yet you also know that life can take unexpected twists and turns. Even though you might have arranged a mortgage that your client can afford to maintain when all is good, if things go wrong – such as an accident, illness or even death, financial matters can quickly unravel. A recent survey from LV= indicated that 1 in 10 have no savings at all while 1 in 5 could manage less than a month without income. Their Plan B is worryingly frail or non-existent.

We’re all too familiar with Consumer Duty (set to ‘celebrate’ its first birthday at the end of July); the regulator is expecting all advisers to consider and address all financial needs of clients. And when you’re arranging the largest debt and financial commitment for your clients, protection must go hand in hand with any mortgage conversation.

But if you feel uncomfortable dealing with protection and wish to concentrate mortgages, or you encounter a client with some difficult medical history, you can’t ignore their protection needs and walk on by. With Referral Pro, LifeSearch can help. They can relieve you of the regulatory burden, help look after your client and ensure they're protected, properly. And you can earn more from it too.

LifeSearch are independent protection advice experts – well-versed with life insurance, critical illness and income protection (and private medical insurance). They’ve been doing this for more than 25 years, protecting 1.8 million lives to date and counting. And with a 4.9/5 Trustpilot score (from over 21,000 reviews) rest assured, your client will be in safe hands.

Referral Pro is a speedy new referral service that helps you meet the demands of todays market.

With the potential to earn on average £250 for every client protected (and, with no clawback). Find out more about how they can help you and your clients. Now that’s a top Plan B.

Click here for more information on Referral Pro or to refer a case.

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For adviser use only. Please note this content has been supplied by our lender partner and as such, is their responsibility. No party shall have any right of action against Legal & General in relation to the accuracy or completeness of the information in this article.