Lack of IFA knowledge 'hinders' protection innovation

A survey based on interviews with 500 advisers in September found more than four in ten ‘do not know’ if they are fans of severity-based cover. Previously, a so-called ‘price war’ which has developed in the protection arena was blamed for a lack of innovation and a growing protection ‘gap’, but the survey suggests other factors may be playing their part. Despite the findings, the research also suggests almost six in ten advisers believe flexible and innovative protection products are the future of the industry. Protection provider PruProtect says the findings could prove significant. “T...