Cost of living pressures fail to entice advisers toward protection work

Latest findings from Professional Adviser’s weekly PA Asks survey

Hope Coumbe
clock • 1 min read

The majority of advisers say the economic pressures of the last few years have not caused them to reconsider the importance of protection policies for clients, Professional Adviser has found.

Advisers responding to the most recent PA Asks survey were questioned about the importance of protection within an advice service and whether or not their views on its importance had changed. More than two-thirds (68%) of pundits said the cost of living crisis had not made them reconsider the importance of protection. This was significantly ahead of the 27% of advisers who had rethought about protection and ahead of 5% of respondents who were unsure. While one pundit said protection was "more important than ever" another admitted they would "happily ditch protection" adding: "It sh...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Shifting demographics: Post-Budget protection conversations

Shifting demographics: Post-Budget protection conversations

Emerging market for people aged 45 and upwards

Naomi Greatorex
clock 18 February 2025 • 3 min read
Supermarkets, fast cars, and protection insurance

Supermarkets, fast cars, and protection insurance

'I would argue this is a perfect example of an efficiency gap'

Paul Yates
clock 10 February 2025 • 3 min read
Protection advisers concerned about rising costs and market pressures

Protection advisers concerned about rising costs and market pressures

One-third see cost of doing business as biggest challenge

Jaskeet Briah
clock 30 January 2025 • 2 min read